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Parker FX Index is up +0.82% in July (-0.57% YTD)

Friday, August 29, 2014
Opalesque Industry Update - The Parker FX Index is reporting a +0.82% return for the month of July. Thirty-two of the thirty-six programs in the Index reported July results, of which nineteen reported positive results and thirteen incurred losses. On a risk-adjusted basis, the Index was up +0.36% in July. The median return for the month was +0.24%, while the performance for July ranged from a high of +7.32% to a low of -2.50%.

In addition to the broad Parker FX Index, there are 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 July, the Systematic Index was up +0.54% and the Discretionary Index was up +1.10%. On a risk-adjusted basis, the Parker Systematic Index was up +0.20% and the Parker Discretionary Index was up +0.83%.

The top three performing constituent programs for the month of July on a reported basis returned +7.32%, +5.71% and +4.93%, respectively. The top three performers on a risk-adjusted basis returned +3.05%, +2.42% and +2.09%, respectively.

The US dollar rose in July on improved economic data as US growth for Q2 accelerated. The euro saw continuing weakness after June’s rate cut and the potential effects on growth as a result of the conflict between Ukraine and Russia and its subsequent sanctions. Looking ahead, managers believe that the market is looking favorable for the USD, but also see potential for a weaker growth outlook in Europe and a number of emerging markets due to the situation between Russia and Ukraine.
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