Friday, 28 November 2014
Last updated 18 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.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...