The Mena Frontier Countries Powershares ETF (PMNA) added to the GWM Major Markets Folio

I added a new position in the GWM Major Markets Folio:

The Mena Frontier Countries Powershares ETF (PMNA)

Many emerging markets have suffered steep declines, mainly due to the QE taper talk. The reduction of quantitative easing in the US is negatively affecting  currency valuations in many of the emerging market (EM) countries. On the other hand, frontier markets, a sub-sector of the EM category, have managed to remain rather unaffected by the turmoil in the broader emerging markets space.

The frontier markets include many Middle Eastern and Northern African countries. Because these frontier market countries have much smaller economies they peg their currencies to the US Dollar; this is a stabilizing factor. Further, their markets are in the early stages of economic development. Moreover, they have relatively lower valuations as well as higher income yield. 

The Mena Frontier Countries Powershares ETF (PMNA) has a very nice looking chart, with prices moving from lower left to upper right, I refer to these nice chart patterns as LLURs.

The Mena Frontier Countries Powershares ETF

 (PMNA)

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