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Currency funds finally record a good month

Posted on 07 November 2013

It hasn’t been a happy year so far for currency focused hedge funds. They’ve eked out their first positive monthly return in October since March, but only just. The stage still looks set for it to be a drab year for this asset class. Why? The funds have failed to predict some key trends like sterling’s rally and the euro’s rise against the dollar to $1.38.
The Parker Global Currency Managers Index, which tracks the performance of funds specializing in the asset class, rose 0.66% in October. That’s the best return the index has seen since January and is a promising sign for foreign-exchange funds, which invest in the $5.3 trillion a day global foreign-exchange market, placing bets on the rise or fall of a particular currency against another………………………………………..Full Article: Source


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VRS - who has written 36970 posts on Opalesque Commodities Briefing.


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