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US - Global Capital Sets Up Iraq Fund


Patrick88
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Global Capital Launches Iraq Focused Fund December 6, 2010

Global Capital Investments is launching an Iraq-focused fund to capitalize on the country’s stabilizing economy.

Chicago-based Kenneth Kuhn, a managing director and longtime currency trader of the Iraqi dinar, began the fund in November to provide better access to Iraq’s financial markets.

The fund primarily invests in listed equities on the Iraq Stock Exchange and has already selected about 44 of the 93 stocks on the ISX, according to Reuters.

Attractive reasons to invest in Iraq, according to Kuhn, include a dropping interest rate, rising exports, a stabilizing dinar and minimal national debt.

“The fund uses a long strategy in a diversified portfolio with an emphasis on the banking sector,” Kuhn told HedgeFund.net.

In addition to the banking sector, Kuhn sees vast potential in oil reserves, as well as the agriculture sector which is recovering from the oil-for-food scandal.

The Iraq focused fund is still in its fundraising stages with a target of $10 million.

The minimum investment is $100,000 and the fee structure is 2% and 20%.

“It is the first fund of our firm and we hope to grow other sister companies,” said Kuhn.

Source:

Google News/Hedge Fund.net

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