Asia Frontier Capital Limited is gearing up to launch an Iraq-focused hedge fund by the end of April.
The AFC Iraq Fund is managed under the leadership team of Thomas Hugger, CEO, and Ahmed Tabaqchali, CIO, who between them have extensive experience covering the global, emerging, frontier, and MENA markets.
The new fund aims to achieve long-term capital appreciation by investing in Iraq equities. Additionally, the fund’s investment universe consists of local companies that have their principal business activities in Iraq, as well as foreign-listed companies that have the majority of their business in Iraq.
Hugger said, “I am a strong advocate for the potential of frontier markets and see our new Iraq offering as incredible value for investors looking for high long-term investment returns. Whilst there are no doubt challenges facing the Iraqi economy, the current market valuations have the characteristics of a short-term negative overreaction and do not reflect the potential of the Iraqi market in the medium and longer term. The AFC Iraq fund will take advantage of this situation to capture the upside of Iraq’s wealth of natural resources and strong underlying fundamentals. Post-conflict countries are unique phenomena for investors offering large potential returns and the AFC Asia Frontier Fund has been investing in Iraq for more than two years.”
Tabaqchali added, “Asia Frontier Capital has an excellent track record investing in frontier markets and a strong history of launching innovative, successful funds that leverage their core strengths to execute niche strategies. With this in mind, I can think of no better place to launch the AFC Iraq Fund and I am extremely pleased to be working with the Asia Frontier Capital team to offer investors access to Iraq’s investment potential.”