T. Rowe Price has unveiled a new fund that invests across all frontier markets.
Dubbed as T.Rowe Price Sicav Frontier Markets Equity Fund, the Luxembourg-domiciled fund will be managed by Oliver Bell.
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The fund aims to profit from the long-term growth potential of frontier markets and invests across the frontier investment universe, including countries outside the MSCI Frontier Markets Index.
With a minimum investment of 15,000, the fund has an investment management fee of up to 1.2%.
Bell said: "In many ways, frontier markets today show similar characteristics to mainstream emerging markets 15 to 20 years ago. Frontier markets have undergone structural changes, and we are now at a stage where the cocktail of ingredients needed for these economies to evolve have come together.
"Economic growth across the region will continue to be strongly underpinned by a young and growing population, improving social trends and an abundance of natural resources. There is a strong runway for growth but, given the starting point of frontier markets, even modest improvements can yield significant results."
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