Fund Managers Suffer Declines In Difficult Foreign Exchange Markets
FUNDS
As widely anticipated, first-quarter foreign exchange trading results by fund managers capped three consecutive quarters of declines in the Ferrell FX Index, which tracks the performance of 39 currency programmes managed by 38 trading firms. The index was off 4.34 per cent at the end of the quarter, compared with a positive 1.71 per cent reading for the same period a year ago.
The index, considered a benchmark for multi-advisor currency portfolios, was developed by Connecticut-based Ferrell
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