Babylon Fund Jumps 10.4% In March

Apr 27 2009 | 11:25am ET

The Iraq-focused Babylon Fund had its best month ever in March, soaring 10.4% to bring its year-to-date gains to 17.7%.

The firm said its double-digit rise in March can be attributed to some well-timed large bloc-trades at favorable prices. Also, rising market prices for the fund’s existing positions padded the return.

“In this later category, the increases seen in Investment Bank of Iraq's and Warka Bank's share prices—22% and 44%, respectively—stood out with the largest portfolio impacts,” wrote portfolio manager Björn Englund, in a monthly investor letter. “Warka Bank is now our largest position in Babylon Fund, and we are one of the larger shareholders of this fifth-largest Iraqi private bank, by Mcap.”

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


Hedge Funds Swarm Into Palm Beach

Oct 27 2016 | 2:32pm ET

As the first flakes of snow fall on New York's northern suburbs, Dan Weil of South...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...