Sideways trading hits funds in June
Only 32% of the 59 programmes in the Index were up for the month – taking the Index for June down to -1.32.
"June was another month for sideways trading, like nearly all of 2004," said Jens Kothes, partner at Compucom Finance in Zurich – the top performing fund for the month, which was up 3.27%.
The firm said most of its profits were generated in just three days from a long US dollar position between June 8 to June 11. During that period the dollar strengthened from 1.2269 to 1.2006 against the
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