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

GSAM’s Papagiannis on Liquid Alternatives

May 25 2016 | 5:07pm ET

The popularity of liquid alternatives strategies has blossomed in recent years,...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...