Tuesday, 21 April 2015
Last updated 24 min ago
Nov 30 2011 | 12:12pm ET
Most hedge funds managed to gain some ground last month as the stock markets rallied. Not so currency hedge funds.
The average foreign exchange hedge fund lost 1.33% in October, according to Parker Global Strategies. The firm, which invests in currency funds, said that the average such fund is down more than 3% over the past 12 months.
Systematic currency funds were hardest hit, dropping 1.75%, while those primarily relying on human decisions fell 0.9%. Systematic funds are down 3.4% on the year.
Within PGS's portfolio, which includes 59 programs with US$46 billion in assets under management, returns ranged from a 4.4% increase to a 9.5% decline.
Among the major factors was the surprise fall in the value of the U.S. dollar against the euro and other currencies. Many currency hedge funds have fled to the greenback amidst growing concerns about the European debt crisis.
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…