THE GROWTH OF A NATION REBUILDING
Listed Stocks
Population (mn)
Market Cap ($ bn)
Oil Reserves (bn bbl)
FMG IRAQ FUND LTD
IRAQ AT A GLANCE
Iraq is generally perceived as a country with significant risks. What many do not appreciate is that it is becoming an oil superpower. What is even more exciting is that Iraq has an operational stock- market, with many potentially great equity investments available to investors.
- Has the world’s third-largest conventional oil reserves
- Expected to rival Russia and Saudi Arabia as the world’s largest oil exporters
- 39 million people, 70% of the population is below 30 years of age
- Iraq Stock Exchange (ISX) is emerging and offers attractive investments
- Expected to be among the world’s fastest growing economy over the next 10 years
FUND DESCRIPTION
The FMG Iraq Fund Ltd offers exposure to the frontier and resource rich soil of Iraq. Despite decades of turbulence, the country is in the middle of a massive oil production expansion which offers attractive growth opportunities in a nascent stock market. The investment objective is to achieve long term capital appreciation by investing in locally traded Iraqi stocks but also in companies that are closely associated with Iraq but traded on other markets.
The fund is actively managed, with FMG (Malta) Ltd (“FMG”) focusing on a fundamental approach backed up by a long-term quantitative model. The frontier nature of the market should over time result in low correlation to global equity markets. FMG considers risk management and fund liquidity an integral element of the portfolio management process. The opportunistic nature of the fund targets investors with a higher risk-reward return profile.
MOST RECENT POST
FMG Iraq Fund gained 0.9% in the 3rd Quarter, and gained 21.8% on a YTD
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...
ASSET ALLOCATION
- Consumer Goods 51%
- Banks 30%
- Telecom 12%
- Real Estate and Hotels 3%
- Cash 3%
FUND PARTICULARS
Investment Profile
Investment Focus
Investment Objective
Investment Horizon
Risk Level (1-7)
Management
Fund Type
Fund Structure
Inception
Base Currency
Currency Classes
Minimal Init. Investment
Frontier & Emerging Markets
Iraq Stock Exchange
Listed Equities
Minimum 5 Years
7
Single Managed
Open-Ended Investment Company
Segregated Accounts
2010
USD
USD, CHF, GBP
Class: A&L $10,000, B $100,000
or lower when dealt via »»
Dealing
Prenotice (Buy)
Prenotice (Sell)
Cut-off Time
Load Fee
Annual Management Fee
Performance Fee
Income Distribution
Domicile
Authority
Custodian (Cash)
Trustee (Stocks)
Administrator
Audit
Monthly
5 Calendar Days
A: 45, B: 90 Calendar Days
5:00PM ADT
Up to 5%
Class A&L: 2%, B: 1.5%
Class A&L: 20%, B: 10% HWM
Accumulation
Bermuda
Bermuda Monetary Authority (BMA)
Reyl & Cie SA
Iraqi Depository Centre
Apex Fund Services Ltd
Deloitte Audit Ltd
Fact Sheet
Chart, Statistics, Description, Terms, ISINs and more
Presentation
Chart, Statistics, Description, Terms, ISINs and more
Prices/NAV’s
Share prices and ISIN codes for all currency- and fund classes
Inquiring more information or subscription details - Iraq Fund
Disclaimer: FMG (MALTA) Ltd. (“FMG”) is licensed by the Malta Financial Services Authority (“MFSA”) as a category 2 Investment Services Provider as provided in the Investment Services Act Chapter 370 of the Laws of Malta. FMG is authorized to act as a full scope alternative investment fund manager (“AIFM”) in terms of Directive 2011/61/EU of the European Parliament and of the Council on alternative investment fund managers (“AIFMD”). This summary is for information purposes only and does not constitute an offer to sell or a solicitation to buy. Citizens or residents of the United States and India may not invest in these Funds. All Funds may not be marketed to Swiss citizens or residents except those considered as “regulated qualified investors” by the Swiss Collective Investment Schemes Act and the Swiss Collective Investment Schemes Ordinance. All Funds are not to be marketed to EU or EEA investors. Investors who wish to obtain information on these funds will only be provided any such materials upon receipt of an appropriate reverse solicitation request in accordance with the requirements of the EU AIFM Directive, Swiss Law and/or national law in their home jurisdiction. Opinions and estimates constitute the manager’s judgment and are subject to change without notice. Past performance is not indicative of future results. Investments in Emerging Markets should be considered high risk where a portion or total loss of capital is conceivable. The synthetic risk-indicator illustrated herein comprises 60 months returns calculated in USD and is updated once per annum. No assurance can be given that the investment objective will be achieved or that an investor will receive a return of all or part of his/her initial capital, and investment results can fluctuate substantially over any given time period. Please refer to the relative fund’s prospectus which contains brief descriptions of certain risks associated with investing in the fund. FMG funds or third-party funds marketed by FMG are aimed at experienced investors and you have to ensure you are able to invest in such funds. Questions should be directed to your local representative or financial advisor. This document may not be reproduced, distributed, or published for any purpose without the prior written consent of the manager. All information contained in this communication is as provided by FMG (MALTA) Ltd. Return chart: FMG Iraq Fund B ISIN BMG8797F2812, MSCI EM Index, MSCI FM Index (USD). Data source: Bloomberg. Exposure chart is updated in May 2021. FMG Copyright (C) 2022 FMG. All rights reserved.