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Komfie Manalo, Opalesque Asia:

Foreign currency-focused hedge funds gained in April according to the Parker FX Index which was up +0.19% for the month (+1.52% YTD). 29 of the 30 programs in the Index reported April results, of which 19 reported positive results and 10 incurred losses. On a risk-adjusted basis, the Index was up +0.09% in April (0.69% YTD). The median return for the month was +0.02%, while the performance for April ranged from a high of +4.77% to a low of -4.12%.

In addition to the broad Parker FX Index, the firm also computes two style driven sub-indices: the Parker Systematic Index, which tracks those managers whose decision process is rule based, and the Parker Discretionary Index, which tracks managers whose decision process is judgmental.

During April, the Systematic Index was up +0.30% (+1.76% YTD) and the Discretionary Index was up +0.09% (+1.28% YTD). On a risk-adjusted basis, the Parker Systematic Index was up +0.11% (+0.68% YTD) and the Parker Discretionary Index was up +0.07% (+0.98% YTD).

Parker Global said in its report, "Central banks and monetary policy remained in focus in April, as uncertainty around FED rate hikes, increased ECB dovishness, and the BoJ’s decision to not extend stimulus drove currency returns. Looking ahead, managers believe that the USD remains favored as the Federal Reserve cautiously raises rates, while commodity prices and central bank actions are expected to continue driving currency market performanc......................

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