Forex Magnates – Events over the last few days have signaled what could be construed as another downturn in fortune for veteran foreign currency hedge fund and portfolio management company FX Concepts, as one of its major remaining clients gave the firm its cards.
According to currently unconfirmed sources, the client in question is believed to be the San Francisco Employees’ Retirement System (SFERS), and as a result of this particular event, information conveyed to Forex Magnates indicated that the company has begun the process of unwinding positions in order to return some of the funds to investors. One particular source explained that whilst the company may still have some smaller accounts, this was the last real institutional mandate at FX Concepts.
