The Parker FX Index, which has 76 funds as its constituents, registered a minuscule +0.08% return in May, with 42 managers providing positive results, and 34 incurring losses. On a risk-adjusted basis, the index was down –0.03% in May. The median return for the month was 0.08%. Performance ranged from a high of +5.18% to a low of –4.80%. The index is now up 2.32% for the year. The top three performing funds on a reported basis were Spectrum Currency Fund of Chicago, (+5.18%), the Oppenheim Tactical Currency Strategy (+4.59%), and the Putnam Investments Currency Fund of Boston (+3.54%). The top three performers on a risk-adjusted basis were: the Spectrum Currency Fund (+2.35%); the Oppenheim Tactical Currency Strategy (+2.26%), and the Plimsoll Capital Headwind Program (+1.66%).