Thursday, 18 September 2014
Last updated 9 hours ago
Mar 25 2008 | 10:38am ET
After getting off to a slow start in January, Godvig Capital’s US$15.4 million Iraq-focused Babylon Fund rebounded nicely last month to the tune of 10.3%.
All asset classes in the portfolio, including Iraqi bonds, oil equities and banking stocks, contributed to the fund’s rebound, according to portfolio manager Björn Englund.
“During the month we maintained our prime investment strategy to increase our fund's exposure in a broad-based manner into what we regard as undervalued blue chips on the Iraqi Stock Exchange,” Englund wrote in an investor letter. “Beyond what most market participants (still too often inexperienced and trend-following though) regard as obvious opportunities, we also start to scan for new opportunities in the pre-IPO market.”
Englund remains optimistic on the “normalization” of Iraq’s economic future noting the formation of a “functioning shadow market, with characteristics of OTC-structure” and a planned secondary market trading of bonds and T-bills. “Perhaps the best (?) sign of normalization took place recently; the first underground hard metal concert in Baghdad,” he notes.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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