TBI Launches $100m Iraq Fund

By John Lee.

The Trade Bank of Iraq (TBI) has reportedly announced the launch of a new $100-million investment portfolio fund.

According to press reports, the Dananeer Fund has been set up in partnership with Cayman Islands-based Alpen Asset Advisors, and is structured as a "Segregated Portfolio Class B of the investment fund company".

The fund aims to generate absolute returns through underlying investments in the USD-denominated Government of Iraq Bond, and endeavors to pay out semi-annual dividends.

More here.

(Sources: Zawya, Funds Global MENA)

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