The AFC Iraq Fund Class D shares returned +23.3% in February 2023 with a NAV of USD 833.91, underperforming its benchmark, the Rabee Securities RSISX USD Index (RSISUSD index), which gained 25.0% during the month.
The fund is up 22.6% year to date versus 18.8% for the index. Since inception, the fund has lost 16.6% while the RSISUSD index is down 37.6%.
The performance of the fund and the index were positively affected by two crucial decisions taken by the Central Bank of Iraq (CBI).
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