Sciens Colored Diamond Fund Up 26 Percent this Year

CNBC reported that lack of transparency in the diamond market has caused some confusion regarding prices. While ConvergEx Group states that diamond prices are down 8.5 to 9.6 percent since mid-2012, Mahyar Makhzani, managing director of the Sciens Colored Diamond Fund, asserts that his fund is up 26 percent this year.

As quoted in the market news:

While the diamond-industry source Rapaport tracks prices for various categories of diamonds, the idea of an authoritative index of diamond prices remains elusive. That’s because prices vary widely by size, color and quality.

Prices can also swing wildly day to day given the vagaries of the famously opaque market, according to Mahyar Makhzani, the London- and Geneva-based managing director of the Sciens Colored Diamond Fund.

‘Everyone is always asking me if there is a reliable index for diamonds, and the answer is it’s impossible,’ he said. ‘We just don’t have enough transparency.’

Click here to read the full CNBC report.