“Our aim is to provide long-term capital growth from an investment portfolio consisting of Iraqi and Iraqi-dependent securities.” So reads the opening line of a monthly report for the Babylon Fund, a long-only mutual fund run by Godvig Capital Management, which is domiciled in the British Virgin Islands.
Despite the mounting deaths, the violence and the political uncertainty, some hardy investors are searching out opportunities in Iraq. And although the number of dedicated funds can be counted on the fingers of one hand, interest is growing.
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