Further confirmation of 2010 as a difficult year for the returns of global currency managers came from Parker FX Index data for November received this week.
The index reports a minus 0.39% return for the month following on from the minus 0.12% return in October. The discretionary approach trumped the systematic one in November: returns were respectively a positive 0.26% and minus 1.03%. It’s not unusual to see the black boxes get a kicking as liquidity dries up.
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