Currency Hedge Fund Managers Held Steady In Turbulent Markets
FUNDS
NEW YORK--Currency managers stood their ground in July amid stormy economic conditions, according to the Parker FX Index.
The index was up 0.3 per cent for the month on a reported basis, and down just 0.11 per cent on a risk-adjusted basis--scaled for 5 per cent volatility and excluding interest income. Of the 51 programmes in the index, 29 showed positive results for July and 22 reported losses.
"While most European currencies meandered sideways against the US dollar and crosses, the mid-June
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