Fund Managers Suffer During Difficult Third-Quarter Markets
FUNDS
Fund managers experienced a tough third quarter, judging by the Ferrell FX Index, which tracks the performance of 29 currency programs managed by 28 firms. The index, a benchmark for multi-advisor currency portfolios developed by Connecticut-based Ferrell Capital Management, dropped to a negative 4.69 percent during the quarter, from up 10.53 percent during the same period a year ago.
Out of the 29 currency programs included in the index, 22 reported negative returns, while only six reported
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