New York-based currency manager FX Concepts announced today that it is launching a new fund based on its FX Volatility Program.<\/p>\n
The Volatility Program is an outgrowth of two specific non-directional strategies that FX Concepts has been operating since March 2002. The first is the options component of the Developed Market Currency (DMC) program ($900 million AuM) and the second is a stand-alone options program ($250 million AuM) that was developed for an institutional client a year later, based on the experience of the DMC options program.<\/p>\n
Philip Simotas, Head of Investment Management at FX Concepts, commented that “since these programs have provided a negatively or uncorrelated alpha compared to most other currency managers, we saw an opportunity in the market for a standalone options program.”<\/p>\n
The Volatility Program will be composed of sub-modules and is currently made up of three distinct non-directional strategies. FX Concepts will retain the right to add new sub-modules and also to dynamically weight these modules based on the goal of maximizing return per unit of risk. The Volatility Program will target an annualized return of around 15%.<\/p>\n
John Taylor, Chairman of FX Concepts, said “2004 was a challenging year for most currency managers given the lack of direction through the end of the 3rd quarter. Our options strategies turned in a strong performance, however. The success of non-directional strategies last year has put them increasingly on the map for investors and this should be a good opportunity for those looking to allocate to the FX space without the typical long-volatility return profile of most currency managers and CTAs.”<\/p>\n
The Volatility Fund, available in both offshore and onshore versions, offers monthly liquidity and a minimum investment of $250,000. Fees are 1.5% and 20%. In addition to the funds, the Volatility Program will also be offered through a total return swap where clients receive\/pay the returns of the program on a monthly basis based on their share of the swap.<\/p>\n
FX Concepts is a New York-based currency manager with over $12 billion in AuM in multiple absolute return and currency overlay strategies. For further information please contact:<\/p>\n
FX Concepts<\/p>\n
Philip Simotas Daniel Szor
Tel: +1 212 554 6832 Tel +1 212 554 6853
Email: psimotas@fx-concepts.com Email: dszor@fx-concepts.com<\/p>\n","protected":false},"excerpt":{"rendered":"
New York-based currency manager FX Concepts announced today that it is launching a new fund based on its FX Volatility Program. The Volatility Program is an outgrowth of two specific non-directional strategies that FX Concepts has been operating since March […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-2962","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/2962","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=2962"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/2962\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=2962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=2962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=2962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}