John W Henry & Co. Gains On Dollar Decline

Dec 11 2006 | 12:34pm ET

Boca Raton-based John W Henry & Co. generated positive performance across its suite of programs in November primarily on the basis of the U.S. dollar declining to a 20-month low against the euro. The firm’s Dollar Program led the way with a gain of an estimated 10.8%, but it still shows a year-to-date loss of 27.1%

“The dollar broke out of its six-month trading range on growing expectations that a slowdown in the U.S. economy will make dollar denominated assets less attractive to investors,” wrote Mark Rzepczynski, chief investment officer, in his monthly investor letter.

“While there has been a consensus this year that the U.S. economy would slowdown, the economic data supporting a strong U.S. decline over the last six months was mixed. This mixed information has been coupled with a Federal Reserve forecast of moderate growth and continued fears about inflation…Economic growth in other countries followed a similar pattern…Growing negative U.S. news along with positive growth expectations for Europe generated a change in expectations for the dollar market which resulted in the dollar declining 3.7% against the euro and 1% on a trade weighted basis in November.”

JWH’s financial programs performance were helped by trading profits in the U.S. bond market and its Broadly Diversified programs also saw positive returns in the agricultural sector due to the continued strong move in the corn market, according to the firm. Its flagship Strategic Allocation program posted an estimated return of 6.3% for the month but is down 6.3% year-to-date through November.

As of the end of November, JWH assets under management total around $2 billion.


In Depth

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

Compelling Opportunities In The Alternatives Space

Jul 29 2014 | 9:33am ET

In an environment where many asset classes seem expensive by historical standards...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    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…

Publisher's Note