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Freddie Investment Fund Manager Adam Kutas bought its leading Bundra biscuit maker Olympic Industries OLIS.DH, which has risen about 620% since 2012, earning a big vote for him; Adam 30 years ago after the trip to Hungary, that jumped to the forefront of market experts.

The BRAC Bank BRAC.DH stake in Bangladesh's retail and small business lenders, bought by Driehaus Capital's leading-edge market fund, surged 271% during the same period, also generating huge gains.

These investors said that banks and retailers and other easy to understand and low valuation of the stock, is the forefront of the most attractive investment in the market. Frontier markets are lower-end asset classes than emerging markets such as Brazil, Turkey and India, and may face the risk of political instability and low liquidity.

"This is like emerging markets 15 years ago," said Chad Cleaver, chief investment manager at Driehaus FrontierMarkets Strategy. "These basic industries have not been fully explored."

US stocks valuation is high, emerging market rally has continued for some time. While the cutting edge market after several years of lower than the average level of compensation, the start in 2017 strong, impressive.

Standard & Poor's 500 index. SPX price-earnings ratio as high as 21.35, MSCI Ming Sheng international forefront of the market price index price-earnings ratio of only 13.

Fund managers said they bought the stock will not put a specific price-earnings ratio on the heart, but the forefront of the market price-earnings ratio is generally the lowest in the global stock market.


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