Iraq Hedge Fund In ‘Stable, Happy, Safe & Secure Place’

Jul 23 2008 | 8:07am ET

While you’ll be hard-pressed to find the words “calm,” “safe,” “happy” and “Iraq” together in a headline, portfolio manager Björn Englund is using them to describe his Iraq-focused hedge fund’s recent performance and the region’s stability.
  
Englund said relative calmness characterized his fund’s 0.6% drawdown last month (it is up 1.7% year-to-date) and, so far this summer, with only some slight exaggeration, Iraq could be portrayed as a stable and secure place compared to “virtually all deteriorating financial markets around the globe, and lately even security-wise; for example relative to the worsening Afghanistan-Pakistan theatre.”

Most of the fund’s sectors, asset classes and portfolio holdings were calm, according to Englund, except for the internationally-traded oil companies, whose volatility increased significantly and contributed to its drawdown.

Englund said he continued to add Iraqi equities to the portfolio, specifically one of the largest Iraqi “stand alone” commercial banks in anticipation of increased risk adjusted returns in the medium term.

The US$22.6 million Babylon Fund charges a management fee of 2% and a performance fee of 20%, and a minimum investment requirement of US$100,000.


In Depth

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Hedgie Funds US Squash Program

Dec 24 2014 | 8:46am ET

Squash, anyone?

Guest Contributor

EidoSearch’s Top Three Market Projections For 2015

Dec 23 2014 | 4:03am ET

It is that time of year again when prognosticators make their big market calls for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

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.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.