Iraqi hedge fund `The Babylon Fund´ announced today that they successfully managed to steer away from the general global financial meltdown seen lately.

Babylon's winning streak continued during July (and further into August) with a rise of 3,8% in the Babylon Fund's NAV-price.

According to a statement, Babylon's aim is to provide long-term capital growth from an investment portfolio consisting of Iraqi and Iraqi-dependant securities. The investment process is mainly top-down driven, with a mix of fundamental analysis and portfolio diversification characteristics, aiming to be regarded as an easy, safe and efficient Gateway towards investing into the region.

Babylon Fund is an open-ended mutual fund that primarily invests into large-cap Iraqi-dependant securities, mainly listed on the stock exchanges both in Iraq and in other countries.

More at: Iraqi Hedge Fund Escapes Market Turmoil .