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...

How often can you buy Pepsi at 8x trailing in a growth market?

Positive results reported by Baghdad Soft Drinks FMG Iraq Fund has been investing in the Iraq Stock Exchange since 2010. One of our core holdings that we have held since inception is the remarkable Baghdad Soft Drinks, a PepsiCo International franchise. PepsiCo Inc is...

FMG Iraq Fund lost 11.2% in the 2nd Quarter

The Iraq Stock Exchange began the quarter on a very sour note, due to the general shortage of liquidity in the country and a continued selling pressure from local and foreign investors. However, the recovery in oil prices in 2016 is significant for Iraqi stocks as...

FMG Iraq Fund- May Update

In short, we believe that we have seen the worst in Iraq. Much has improved, but not yet translated into higher share prices. So we believe that stocks are at/near the bottom and set for a recovery that will hopefully last a number of years. In detail:Iraq was hit by...