Profits In Foreign Exchange Drop Off For Most Fund Managers In 1993
FUNDS
Fund managers had a tough year in 1993, according to the Ferrell FX Index, which tracks the performance of 32 currency programs managed by 31 trading firms. The index, a benchmark for multi-adviser currency portfolios developed by Connecticut-based Ferrell Capital Management, estimates fund manager performance for the year was down 2.91 per cent in 1993, compared with a positive 10.82 per cent the prior year.
"Currency markets were marked by congested conditions and sharp reversals during the
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