Best-Performing Mongolian Stocks Have ‘Upside,’ Harvest Says

Harvest Global Investments Ltd., a unit of China’s second-largest money manager, plans to buy more Mongolian stocks for its frontier-markets fund as rising consumption and a commodities boom spur economic growth.

“From being unknown to being mildly known, Mongolia still offers upside,” Andrew Tan, 37, deputy chief investment officer at Harvest Global, said in a telephone interview from Hong Kong on Feb. 28. “We find the government has done all the right things for the last five years in terms of opening up the market. The country has much better fundamentals.”