Saturday, 28 March 2015
Last updated 1 day ago
Mar 7 2007 | 10:24am ET
U.K.-based Addax Capital last month launched its maiden fund, the Addax FX1 Fund, an Irish-domiciled and listed global currency fund. The new offering boasted more than €17 million (US$22.3 million) in assets under management and finished its first months of trading up 0.54%.
The fund employs a model-driven mechanical trading strategy focusing on short-term trends in the currency markets, according to fund documents. Its entry and exit points, as well as risk parameters and stop-loss levels, are also determined by the trading model, which generates signals across all major currency pairs.
The funds charges a 2% management fee and 20% performance fee, with a €250,000 (US$327,600) minmum investment requirement.
Going forward, the firm says it will roll out more aggressive products. “For example, we have plans for a more aggressive fund using exactly the same technical model and trading techniques as the FX1 Fund, but using more leverage,” said Gavin Taylor, Addax’s CFO. “This will be aimed at investors with a higher risk appetite. There are also plans to roll out our existing trading model and strategy into other products.”
Co-founder Federico Grego, a former foreign exchange trader with Dresdner Bank and HSBC Markets in New York, is the fund’s portfolio manager.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…