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Opalesque Exclusive: FX funds flat so far this year (to Feb-09), following a reasonably good year in 2008 By Benedicte Gravrand, Opalesque London.

The Parker FX Index reported a return of +0.02% (est.) for February-09 last week. Sixty-two programs in the index reported February results, of which twenty-nine reported positive results. On a risk-adjusted basis, the index was flat. The median return for the month was -0.02%, while the performance for February ranged from a high of + 5.38% to a low of -4.08%. The index returned around 5% last year. Other CTA indices were also flat or negative in February.

Amplitude +1.31% although FX strategy saw losses Amplitude Capital Group’s Dynamic Trading Fund is a CTA which trades highly liquid exchange-traded futures across all asset classes. The Amplitude Dynamic C Class fund returned +1.31% in Feb-09, +3.69% YTD and +14.77% in the last 12 months.

February saw continued falls in the global equity markets on the back of a negative outlook. The fund exploited profit opportunities in falling markets and earned positive returns from the FESX and the S&P500 strategies - but the FI and FX strategies saw losses in February driven by sideways movements in US bonds and difficulty in capturing gains from a strengthening US$. Amplitude ......................

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