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

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Vortic: Making Great American Watches Again

Jul 25 2016 | 6:29pm ET

If you are compelled by stories of entrepreneurial vision & drive, or simply...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...