Komfie Manalo, Opalesque Asia: The strong U.S. dollar and the continued downward spiral of oil prices helped push FX hedge funds to gain 3.65% in 2014, said Parker Global Strategies. The Parker FX Index reported a +0.67% return for the month of December.
"The US dollar rose on largely positive economic data. The continued fall in oil prices sent commodity currencies downward, while euro weakness was driven by falling inflation and renewed discussion of quantitative easing," said Parker FX in its monthly report.
Parker FX said that 33 of the 66 programs in the Index reported December results, of which 20 reported positive results and 13 incurred losses. On a risk-adjusted basis, the Index was up +0.30% in December. The median return for the month was +0.58%, while the performance for December ranged from a high of +10.68% to a low of -5.81%.
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 December, the Systematic Index was up +1.70% and the Discretionary Index was down -0.36%. On a risk-adjusted basis, the Parker Systematic Index was up +0.64% and the Parker Discretionary Index was down -0.27%.
The top three performing constituent programs for the month of December on a reported b...................... To view our full article Click here
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