Saturday, 27 December 2014
Last updated 3 days 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.