Forex fund managers hit by Turkish devaluation in February
NEWS
STAMFORD, CT -- Currency fund managers had a hard time in February, according to the latest figures from Parker Global Strategies. Investors in emerging market foreign exchange were particularly badly hit by the devaluation of the Turkish lira in the first few days of the month, said Virginia Parker, Stamford-based president of Parker GS.
The Parker Emerging Index was down -0.80% for the month. Only two of the six managers on the index reported positive results.
Meanwhile, more than 60% of funds
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