We are writing to inform you that the board of directors has concluded that the capital base of FMG MENA is not sufficiently large to enable its investment objectives to be properly pursued. As a result of this, they have determined to close down FMG MENA and to...
Russia is a winner from the whole energy imbalance we are witnessing now where the price of both liquid natural gas and crude is shooting up. The popularity of the green shift/ESG investing has diverted capital away from oil and gas and related fossil fuel producers...
Russia Russia is a winner from the energy imbalance we are witnessing now where the price of both liquid natural gas and crude is shooting up. The popularity of the green shift/ESG investing has diverted capital away from oil and gas and related fossil fuel producers...
The upward trend in oil prices that we witnessed in the Q2 has continued in Q3. The average price of Brent crude oil was $73.6 in Q3 vs. $68.8 in Q2. That strength has persisted in early October with the oil price well above $80/bbl. This of course bodes well for the...
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...
