Currency fund managers poised for down 2005

In mid-December, professional currency fund managers were on the verge of a negative year for the first time since 1994, despite gains in November. With nearly 90 percent of funds reporting, the November return for the Barclay Group’s (www.barclaygrp.com) Currency Traders Index was 1.32 percent which still left the index down -.04 percent for the year. Also, through Dec. 20, Barclay’s BTOP FX Index, which tracks the performance of the top-50 currency managers, was down -1.27 percent for the month (-.15 percent for the year). The last time their currency index finished a year in the red was 1994, when professional currency managers posted a -5.96-percent loss, which followed a -3.33 percent loss in 1993. These back-to-back declines were the index’s only losing years since 1987.

It shows the top currency funds for the month of October. The No. 1 firm, Monarch Capital Management, was featured in last month’s issue of Currency Trader. The No. 4 performer, Wallwood Consultants, was featured in the November issue.