Belfast Telegraph

The past is the past and the future is ... Mongolia

By David Elliot

The financial world appears to be in meltdown across The globe but this column won't sleep until we've found The gems amongst The coal, The pearls amongst The oysters and The bulls amongst The bears.

To make sure we aren't behind the curve, we've enlisted the help of someone who knows, someone you could describe as a tame numbers man. Some say he only speaks the language of Fibonacci, but all we know is he's called The Stat.

His challenge, to furnish us with some good economic news today, as we've already alluded to, wasn't an easy one given the circumstances but I think you'll agree he's struck gold. Well not gold, but copper.

Whether this is a reflection of his origins I don't know but he's a big fan of Mongolia and points us to a Moneyweek article of which I'm not sure he didn't have a hand in.

First, the stats.

Mongolia is the size of western Europe and is thought to have the world's second-biggest copper and uranium reserves, although 80% of the country is still unsurveyed. As if that weren't good enough, its neighbour is China, the world's biggest commodity consumer so it'll be in a good position to compete with other producers when it's up and running and might even get back a load or two.

Armed with this information you won't be surprised to know that Mongolian GDP climbed 9.7% year-on-year in the first quarter, or that the local stock market has rallied 170% over the last year.

Want to get a piece of the action? Want to go long on Greece and bet the mortgage that the future is Mongolian?

It's easy.

All you'll need is $10,000 to buy in to London private equity group Origo Partners' Mongolian Stock Exchange Liquidity Fund.

Not a bad first bunch of stats from The Stat, I think you'll agree and we look forward to more of the same in the weeks ahead.

I'm sure the treasury officials of Greece are looking on enviously at their colleagues in Mongolia.

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