Strong Trends During 1997 Prove A Blessing To Currency Managers
FUNDS
LONDON--Currency fund managers enjoyed healthy returns during 1997, according to two separate industry tracking indices. In the Parker FX Universe, year-end estimated returns were up 12.52 per cent on a reported basis and 5.97 per cent on a risk adjusted basis. Meanwhile, the Tass Currency Index was up 22.48 per cent for the year.
During the fourth quarter, Tass Management notes that currency funds outperformed all other market sectors, growing an estimated average of 13.56 per cent; while in
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