FMG Iraq Fund lost 1.9% in the 3rd Quarter of 2017

FMG Iraq Fund lost 1.9% in the 3rd Quarter of 2017 A frontier market like Iraq typically shows low correlation to global market moves, but we did not anticipate the index to lose 8% while the price of Brent rocketed 20%. Foreigners were mainly net sellers in the...

FMG Iraq Fund lost 9.4% in the 2nd Quarter of 2017

FMG Iraq Fund lost 9.4% in the 2nd Quarter of 2017 Despite the progress made against ISIS, the stock market retraced the gains clocked in the first quarter of the year. Volumes were dull, and foreign participation high but mostly on the selling side, especially in the...

FMG Iraq Fund gained +4.5% in the 1st Quarter of 2017

FMG Iraq Fund gained +4.5% in the 1st Quarter of 2017 The Iraqi stock market rally that began in the summer of 2016 continued during Q1. For most of the quarter the ISX was the best-performing market in the world, but in March much of the gains were wiped out as oil...

FMG Iraq Fund lost 2.5% in the 3rd Quarter

After the market reached a multi-year low during the summer we saw a period of stability and a bottom pattern form during the third quarter. Local stocks generally traded sideways while the offshore-listed Iraqi oil and gas companies traded slightly lower. Iraqi bonds...