FX Currency Management To Launch First FX Mutual Fund
BANKS
Chicago-based FX Currency Management is planning to offer the first-ever currency mutual fund early next year, sources there confirm. The closed-end fund will trade forwards and swaps in the interbank market via a unit of McKenzie Global Asset Management, who has signed on to handle the currency exposure.
"It will allow institutional and other large investors to get involved for the first time in a currency fund that will charge less than three percent fees--that is, a mutual fund structure,"
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