Advance Frontier Markets Fund Limited

Advance Frontier Markets Fund Limited was incorporated on 25 April 2007 with registration number 46809 and is a Guernsey closed ended investment company. Therefore the rights of shareholders may be different from the rights of shareholders in a UK incorporated company. A total of US$85,000,000 million was raised through a placing of 85 million ordinary shares and 17 million warrants. Dealings in the ordinary shares and warrants commenced on 15 June on AIM and the Channel Islands Securities Exchange. Subsequently a further $90,443,040 was raised through placing of ordinary shares in June 2008.  The warrants expired on 29 June 2010.  The stock ticker for the ordinary shares is AFMF. Restrictions on the transfer of securities can be found in Part 7, Section 4.2.8 (pg 51) of the Admission Document.

The objective of the Company is to generate long-term capital growth for its Shareholders. The Investment Manager intends to achieve this by investing predominantly in a diversified portfolio of funds and other investment products which derive their value from Frontier Markets. The proportion of the portfolio invested in each component of the Frontier Markets will vary according to where the Investment Manager perceives the most attractive investment opportunities to be. Investee funds may include closed and open-ended funds, exchange traded funds, structured products, limited partnerships and managed accounts. Pending investment, reinvestment or distribution, cash will be placed in bank deposits, bonds or money market instruments.

As the Company’s investment objective is based on capital appreciation and it expects to reinvest realized returns from investments into new investments that are consistent with its investment strategy, the Directors do not intend and are not required to make dividend distributions to Shareholders. The Directors do reserve the right to make such distributions, if they believe it to be in the best interests of the Company and its Shareholders.

The information on this website is disclosed in accordance with Rule 26 of the AIM Rules.

To learn more about the fund and investment manager please visit:

www.advance-emerging.com