Wednesday, 23 July 2014
Last updated 10 hours ago
Feb 7 2013 | 10:18am ET
Currency hedge funds had their best month since early 2011 in January—more a commentary on their middling performance recently than anything else.
The Parker Global Currency Managers Index rose 1.42% last month, in line with most broader hedge fund indices but a far cry from the Standard & Poor's 500 Index, which rose 5.1% in January. On the other hand, it's certainly a marked improvement: The benchmark rose just 0.77% last year, compared to an average high-single digit return for all hedge funds and a nearly 16% return for the S&P500.
Parker Global Strategies' Jon Stein said there were signs that the improvement could be a long-term one.
"It wasn't like the entire student body moving in the same direction," he told The Wall Street Journal. "You have currencies moving in a meaningful way," providing a much-needed turnaround for trend-following funds.
"These model-driven trend-followers needed this month," Stein said.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…