Frontaura Global Frontier Fund LLC invests exclusively in frontier markets, and provides investors with a net return series that over multiple years exceeds that of the major global developed and emerging equity indices with a low correlation to those indices. We seek to exploit pricing inefficiencies in frontier equity markets. Our investment approach uses both top-down country factors and bottom-up company factors. At the country level, we examine sovereign risk and calculate country scores that measure currency vulnerability. At the company level, we model each company's discounted cash flow using our proprietary valuation tool that accounts for expected exchange rate changes and fading rates of return on invested capital and profit growth as time passes. Ultimately, we aim to own solid businesses at attractive prices in stable or improving countries.