Asia Frontier Capital Ltd. (AFC) founded the first private investment fund, which will specialize in the market of Uzbekistan, called AFC Uzbekistan Fund.
The company’s press release states that: “AFC expects substantial growth in the stock market due to the recent abolition of capital controls, Uzbekistan’s striving for privatization processes and the introduction of a freely floating exchange rate of the national currency.”
AFC Uzbekistan Fund aims to achieve long-term capital growth for investors by extracting revenues from growing listed companies for five or seven years. The main focus will be on private sector companies and government facilities subject to privatization, the report said.
“Until recently, Uzbekistan, since the onset of the global financial crisis in 2008, was excluded from foreign investment by restrictions on the repatriation of capital. However, after spending some time in the country, it becomes obvious that the government is liberalizing the economy and society, transforming the country into a free market economy without restrictions on capital movements, thereby providing a great pioneer advantage for Asia Frontier Capital, “said Asia CEO Frontier Capital Thomas Hagger.
Asia Frontier Capital Ltd. is a pioneering fund management company based in Hong Kong that specializes in investing in high growth Asian frontier economies by managing the AFC Asia Frontier Fund, AFC Iraq Fund, AFC Uzbekistan Fund, and the AFC Vietnam Fund.