Asia Frontier Capital Ltd. is an investment company created by a management buyout of Leopard Capital by the former CFO and COO, Thomas Hugger, at the end of May 2013. Leopard Capital Management Ltd. was subsequently renamed Asia Frontier Capital Limited. The company manages the AFC Asia Frontier Fund, AFC Iraq Fund, AFC Uzbekistan Fund and AFC Vietnam Fund. All funds are open-end funds under the AFC Umbrella fund for US investors or AFC Umbrella fund (non-US) for investors outside from the US. Investors can subscribe or redeem the funds monthly at net asset value.
These type of funds invest specifically in the frontier markets asset class and aims to capture returns by managing a portfolio of stocks in high growth markets.
AFC Asia Frontier Fund invests in listed equities from Bangladesh, Bhutan, Cambodia, Iraq, Kazakhstan, Kyrgyzstan, Laos, Maldives, Mongolia, Myanmar, Nepal, Pakistan, Papua New Guinea, Sri Lanka, Uzbekistan and Vietnam.
AFC Iraq Fund invests in companies from Iraq and Kurdistan listed on the Iraq Stock Exchange (ISX) or listed at any other stock exchange.
The AFC Uzbekistan Fund invests in companies from Uzbekistan and Kyrgyzstan listed on the Tashkent Stock Exchange or Kyrgyz Stock Exchange.
AFC Vietnam Fund invests in companies listed on the Ho Chi Minh City Stock Exchange or Hanoi Securities Trading Center.
The current directors are Thomas Eugen Hugger and Henry Looser and among the shareholders is Marc Faber, a well known early and experienced investor in frontier markets.
Asia Frontier Capital Limited subsidiary Asia Frontier Investments Limited, Hong Kong, is licensed by the Hong Kong Securities and Futures Commission "SFC" for Type 4 (Advising on Securities) and Type 9 (Asset Management) and is the company's headquarters.