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Komfie Manalo, Opalesque Asia: Currency hedge funds started the year on a positive note as the Parker FX Index was up +0.68% in January. In its monthly report, Parker Global said that 28 of the 31 programs in the index reported January results, of which 19 reported positive results and nine incurred losses. On a risk-adjusted basis, the index was up +0.31% in January. The median return for the month was +0.72%, while the performance for January ranged from a high of +4.60% to a low of -2.04%.
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 January, the Systematic Index was up +1.09% and the Discretionary Index was up +0.27%. On a risk-adjusted basis, the Parker Systematic Index was up +0.42% and the Parker Discretionary Index was up +0.21%.
The top three performing constituent programs for the month of January, on a reported basis, returned +4.60%, +3.76%, and +3.55%, respectively. The top three performers on a risk-adjusted basis returned +1.99%, +1.93% and +1.67%, respectively.
The U.S. dollar was up this month as risk appetite fell on continuing concerns about China’s growth outlook. Looking ahead, managers believe that the USD remains favored, and commodity prices, central ...................... To view our full article Click here
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