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Komfie Manalo, Opalesque Asia: Foreign currency-focused hedge funds reported modest gains in June according to Parker Global. The firm's Parker FX Index returned 0.15% for that month. Some 27 of the 30 programs in the Index reported June results, of which 11 reported positive results and 16 incurred losses.
On a risk-adjusted basis, the Index was up +0.07% in June. The median return for the month was -0.19%, while the performance for June ranged from a high of +6.72% to a low of -3.66%.
Parker Global said, "June was marked by substantial volatility as the USD declined sharply early in the month following the release of a disappointing 38,000 non-farm payroll number. However, after the unprecedented Brexit decision, the GBP fell to a 30-year low as the USD strengthened and the JPY surged on global risk aversion. Looking ahead, sentiment on the USD remains mixed with downside pressure from a FED rate hike likely remaining on hold following Brexit versus potential upside on relative weakness in the Euro from fragmentation and concerns within the banking system."
The top three performing constituent programs for the month of June on a reported basis returned
+6.72%, +5.70%, and +5.46%, respectively. The top three performers on a risk-adjusted basis returned +3.59%, +3.24% and +2.81%, respectively.
In addition to the broad Parker FX Index, there are two style driven sub-indices: The Parker Systematic Index,...................... To view our full article Click here
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