Amazingly, amid the daily carnage, machine-gun fire, bomb blasts, and other horrors that have come to symbolize Iraq, yesterday the Iraq Fund Management LLC was able to launch its first hedge fund, which will buy and sell the securities of Iraqi banks and state-owned enterprises. According to the Hedge Fund Lounge, Dave Packard, the fund manager, said, “The primary investment objective of the Partnership is growth of capital. The business of the Partnership is buying and selling securities of small to large capitalized companies, including stocks, warrants, rights and options of U.S. and non-U.S. entities. The Partnership seeks to engage initially and primarily in proprietary trading on the Iraqi Stock Exchange, focusing on the banking sector and State Owned Enterprises (SOE’s) of Iraq."
The story also noted that yesterday was the first day of trading on the Iraqi Stock Exchange. The hedge fund will be domiciled in Delaware. One hedge fund strategy that has seen a lot of growth in recent years is in emerging markets. Consider just yesterday that Threadneedle Investment Services Ltd. announced it has acquired emerging market hedge fund Convivo Capital Management Ltd. for an undisclosed price. According to Hedgeworld.com, Threadneedle launched its hedge fund business in 2000 and will now manage roughly $3 billion across nine strategies, of which three will be in emerging markets.
IncreMental Advantage is in the midst of planning a hedge fund strategies conference for sometime in January. The aim of the conference is to have top hedge fund industry sources talk about what they believe will be the best performing strategies in 2008. In the meantime, I am interested in hearing from you of what you think will be the most profitable hedge fund strategies in 2008. Click here to cast your vote.
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