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.
(Sources: Zawya, Funds Global MENA)