Estudio de las posibilidades de inversión en los mercados frontera[Study of the possibilities of investment in the frontier market]

The concept of frontier market is still ambiguous and subjective, but utilizes to define a group of emergent markets characterized by to be few liquids and with a little capitalization, but with certain access to the international capitals. In the work that we develop next will study the concept of frontier market, characteristics, weakness, threat, advantages and opportunities that the markets represent for a potential investor, the main vehicles available for that, and, finally, the benefits of the inclusion of the frontier market in a portfolio with different compositions of frontier, emergent and developed markets. Between other conclusions that will exposed in detail, we can indicate that in the period of study 2003-2015, the main profits are obtained in the portfolios with participation of frontier and emergent markets, more great in first with values of final period of 250 and 247, respectively, in front of values of 225 for the index of portfolios with participation of the developed markets.