FMG Iraq Fund gained 1% in the 4th Quarter, and 3% for 2020

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...

FMG Iraq Fund gained 2.6% in the 2nd Quarter

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...

FMG Iraq Fund lost 19.3% in the 1st Quarter

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...

FMG Iraq Fund gained +19.5% in the 2nd Quarter

After the sharply negative start to the year for Iraqi equities, the market measured by the RS ISX index rallied hard and erased all losses. We have long argued that the market is well set for a market rally and this quarter could well be the starting point. It was...