As initial anxiety over Donald Trump’s victory gave way to market euphoria in the days following the election, there was a casualty. Gold prices.
Tuesday, 24 January 2017
Last updated 16 hours ago
May 30 2007 | 10:01am ET
Pinnacle Alternative Investments is looking to expand its stable of foreign exchange managers, the firm said, hoping to add a systematic, long-term currency trader within the next few months.
Pinnacle, a marketing and business consultant for commodity, futures and FX alternative managers, is looking for managers with “superior” performance records of at least 12 to 18 months, with a minimum of $20 million to $30 million in assets under management. Managers must be willing to provide full disclosures (preferably AIMA-compliant) and the performance record should be continuous and verifiable.
“What we’re most interested in is learning is about the breadth and depth of FX talent out there,” said Pinnacle managing director Jacques DeRouen. “There are a number of good, high-quality FX managers that we’re aware of and a handful of whom we already represent. On the other hand, for every good FX manager, there are a couple more that are not that good and the idea is to gather as much hard intelligence as we can about the type of trading talent that is out there allowing us to build our database of FX managers that we may seek to retain to market to the investor space.’
Pinnacle currently represents two FX managers and within the next few months, according to Rouen, who said that the firm is preparing to expand its investor channel to include Latin America.