In a major shift in how its structured, Aberdeen Frontier Markets (AFMC) last year moved from investing indirectly via funds to investing directly into shares of listed companies. This was mostly completed by the end of June 2017. AFMC has underperformed the MSCI Frontier Markets Index by some margin and this, in turn, has led to a widening discount. However, AFMC is not and does not want to be seen as a closet indextracker. The manager believes its focus on quality will be rewarded in the lo ....