Iraq could be the next Russia, says FMG

May 30, 2010

The Swedish fund-of-funds house talks up the Middle Eastern market's potential as it prepares to launch a new Iraq fund.

It's a rather unusual approach to pitching a fund, but then it's not your typical fund. Stockholm-based fund-of-funds manager FMG recommends that clients put 1-3% of their assets into its soon-to-launch Iraq Special Opportunity Fund, write it off as a loss on the first day, then "look again in three to five years", says the firm's principal Johan Kahm.

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