Wednesday, 17 September 2014
Last updated 2 hours ago
Dec 30 2008 | 12:35am ET
The Babylon Fund dropped 1.6% in November, bringing its year-to-date losses to 20.1%. The firm said odds are now strong that it might have to summarize 2008 as the first “loss-making year” since the fund’s inception in 2006.
But portfolio manager Björn Englund remains upbeat about the fund’s performance relative to the markets it invests in.
“While, of course it is never satisfying to add negative value in any month, it seems as Babylon faired extremely lucky, once again, compared to the heavy sell-offs experienced in the MENA, GCC and also in the global frontier markets,” he wrote, in a monthly investor letter.
Within Iraq, Englund noted that the steep fall of crude oil prices continued in November, taking a heavy toll on most oil companies in Iraq. Also, the general sell-off of risky debt resulted in the Iraqi bond trading briefly all the way into default territory—mainly due to liquidity concerns.
“We now buy these bonds on the dips as we see good value as well as relatively good diversification and liquidity characteristics,” he wrote.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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