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Iraq Hedge Fund Up In May, Considers Soft Close

FINalternatives- Godvig Capital’s Iraq-focused Babylon Fund finished May up 2.7%, bringing its year-to-date gains to 5.2%.

The fund’s portfolio included stakes in hotels, banks and breweries last month, according to portfolio manager Björn Englund, who said he has been solicited to take on board seats but has refrained from doing so.

“Our board policy stays for now, but might have to change in the future,” he said.

Last month, Englund said he continued to slowly add to the portfolio’s Iraq Stock Exchange exposure because of the “sizable inflow” into the fund, and intends to soft close the fund later this year “should assets rise faster than our target.”

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