Babylon Fund Posts Modest Gain in April

May 21 2008 | 2:00am ET

After dropping 6.45% in March, the Iraq-focused Babylon Fund made a modest gain of 0.8% gain last month, returning it to near-positive territory  year-to-date.

The fund benefited from both the Iraqi dinar’s continued strengthen and a mixed bag of Middle Eastern telecom, construction and holding companies with large penetration in Iraq, according to portfolio manager Björn Englund. 

Last month, the US$16.5 million fund had most of its assets in the financials sector (39%), followed by a 12% allocations to both the oil and energy sector and the construction sector.

“Foreign asset allocaters are optimistic from a portfolio diversification perspective, due to the continued non-correlations witnessed between the ISX/Babylon Fund vs. both GCC, MENA and broader EM indices,” Englund said.


In Depth

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note