Sunday, 21 December 2014
Last updated 1 day ago
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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.