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25 Jul 2008

Iraqi Babylon Fund Maintains Calm in June

So far this summer, with only some slight exaggeration, Iraq could comparatively be portrayed as a stable, safe & secure place, according to the Fact Sheet for June 2008 for the Iraqi Babylon Fund.

Relative calmness characterized Babylon Fund's performance in June, mainly trading sideway with a modest 0.6% performance in the red at closing. Most of the fund's sectors, asset classes and portfolio holdings experienced calm waters, except for the internationally traded oil companies whose volatility increased significantly.

The overall portfolio strategy has allowed the Iraqi fund to stay in positive territory through the year, with a +1.7% performance on a YTD basis. In anticipation of increased riskadjusted returns on the medium-term we continue to add to our Iraqi

The Babylon Fund is an open-ended mutual fund investing into large-cap Iraqi-dependant securities, mainly listed on the Iraqi stock exchange in Baghdad, but also in other countries.

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