The quarter ended with a decline in our largest position, Baghdad Soft Drink (loss of 6% in September) followed by a 2% September loss for Bank of Baghdad, being the second largest position. Another large position for the Fund was up 5% for the month. The important...
In the first quarter the Iraqi market, as measured by the Rabee Index, increased by 16.7% which was in sharp contrast to the relatively modest returns in global markets. ISX year-to-date returns are one of the strongest registered by any market, but intra quarter...
In the fourth quarter the Iraqi market, as measured by the Rabee Index, decreased by 5% which was in sharp contrast to the broad-based global rally. We were not too happy witnessing the disparity, but ones again it proves that the ISX remains one of the few...
In the second quarter the Iraqi market, as measured by the Rabee Securities USD Index, increased by approximately 2%. Intra quarter volatility, however, was huge, as the market registred a sharp V-shape post the lifting of a full lockdown which was also imposed on the...
In the first quarter the Iraqi market, as measured by the Rabee Index, decreased by 15%. The market was weak throughout the quarter but much less volatile compared to the unprecedent moves seen in global equity markets in March. The Iraqi Dinar was stable while the...
Despite the turmoil seen in Iraq over the past few months, the Iraqi market managed to show some strength close to the year. Investors are clearly seeing through the turmoil, and after a seldom seen 6 year long bear market (the stock market crash of 1929 lasted 2.8...
