PGS Launches Investable FX Index

Parker Global Strategies (PGS), which has tracked FX managers’ performance since January 1986 in its Parker FX Index, has launched an investable foreign exchange index, the PGS FX Alpha Edge. The index is designed to capture alpha available in the global currency markets, as well as to provide a return stream with low correlation to […]
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Deutsche Survey Sees Investor Interest in Currency Waning

Deutsche Bank has released the results of its fifth Annual Alternative Investment Survey, which was conducted during the second half of 2006. The bank says that over 1000 representatives from almost 700 institutions responded to the survey from a range of banks, corporations, insurance companies, consultants, family offices, high net worth individuals, wealth management companies, […]
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…Launches Currency Option Fund

Mellon Global Investments also last week reinforced its Dublin-domiciled Mellon Global Funds (MGF) range with the launch of the Mellon Evolution Currency Option Fund. Launched on January 10, the fund seeks to return 15% gross per annum by principally using liquid OTC currency options to exploit “significant” movements in the world currency markets. The fund […]
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Mellon Wins Currency Overlay Mandate…

Mellon Global Investments has been awarded a currency overlay mandate by London-based Witan Investment Trust in respect of GBP350 million of the Trust’s foreign currency exposure. The mandate will be managed by Mellon Capital Management, a subsidiary specialising in global quantitative strategies. The objective of the mandate is to seek to obtain additional out-performance through […]
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Drake Management Opens in Tokyo

Drake Management, a New York-based global macro money manager, has opened its first foreign office in Marunouchi, Tokyo. The office, which Drake is in the process of registering as a Japanese investment advisor, is manned by three senior staff and dedicated primarily to servicing Drake’s clientele across Asia. Drake currently manages over $6 billion. The opening […]
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Leitner Replaces Lehtis at Allston Trading

Mike Leitner has been appointed head of currency trading at Chicago-based proprietary trading company Allston Trading, sources tell Squawkbox. He replaces Erik Lehtis who left the company at the end of December. Allston Trading declines to comment on where Lehtis has moved to.
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Management Buys Currency and FI Fund

Swiss private bank Julius Baer Holding has entered into a buyout transaction with the management of Julius Baer Investments, its UK-based subsidiary that specialises in fixed income and currency asset management. Under the terms of the deal, 90% of the equity of Julius Baer Investments, which will now be called Augustus Asset Managers, has been transferred, subject […]
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RBS Prop Trader Joins C-View

UK-based currency manager C-View, which has more than $600 million under management, has added to its portfolio management team. Jonathan Webb is joining the firm, having last been a member of the FX proprietary trading desk at the Royal Bank of Scotland, which was closed towards the end of last year (see Squawkbox, November 27 […]
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CS Tremont Seeks to Allay Emerging Market Hedge Fund Fears

New research from the Credit Suisse/Tremont group was released last week, highlighting positive trends in emerging markets, but perhaps more pertinently seeking to allay fears expressed in some quarters over hedge fund exposures to emerging markets in general. The research, which is available on the firms’ website, www.hedgeindex.com, compares the changing environment of the emerging […]
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Busier Market Helps JWH to Strong Month

The increased volatility and resumption of the long-awaited dollar downtrend helped CTA John W Henry in November. The long term trend-following firm has released flash estimates of its November performance for its foreign exchange programs which show all three programs having a strong month. The firm’s International Foreign Exchange Program rose 5.95% in November, a […]
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