Iraq Hedge Fund Launches

Aug 13 2007 | 2:22pm ET

Iraq Fund Management has launched its first hedge fund, offering investors exposure to that war-torn country.

The Iraq Fund, which began trading on Aug. 1, focuses primarily on state-owned enterprises and the banking sector on the Iraq Stock Exchange in Baghdad.

“The fledgling Iraqi banking sector and Iraqi SOEs offer a unique opportunity, as they are greatly undervalued in light of their growth prospects and the infusion of cash from the [U.S.] Department of Defense, the Iraqi government and other sources,” fund manager Dave Packard said in a release.

The fund is domiciled in Delaware. It has a $250,000 minimum investment requirement, and charges 1.5% for management and 15% for performance, with a high-water mark. After a one-year lockup, investors can redeem quarterly. The Credit Bank of Iraq serves as its prime broker.


In Depth

Q&A: Schroders’ Forest Discusses Multi-Asset Investments On Eve Of U.S. Launch

Jul 17 2014 | 8:05am ET

Global investment manager Schroders has $446 billion in assets under management, $...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

Common Risk Parity Misperceptions

Jul 16 2014 | 11:02am ET

Over the past few years, risk parity has become a component of most investors’...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note