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FX Concepts to launch Ucits fund


New York-based currency manager FX Concepts is launching a Luxembourg-domiciled fund investing in its Global Currency Programme. 

New York-based currency manager FX Concepts is launching a Luxembourg-domiciled fund investing in its Global Currency Programme. 

The fund has been set up in conjunction with Deutsche Bank.
‘Investor interest in active currency strategies has been very strong this year, and we’re delighted to make our Global Currency Program available to investors in Ucits format,’ says John R. Taylor (pictured), chairman and chief executive of FX Concepts. 

The fund offers daily liquidity and has a EUR25,000 minimum. Investments are fully collateralized and ring-fenced in accordance with the Ucits III directive. The fund will offer share classes in Euro, US dollars, Sterling and Yen.
‘In the current financial climate, investors are looking for strategies which offer maximum liquidity and transparency’, says Daniel Szor, managing director and head of FX Concepts’ London office. ‘FX fits these criteria very well, and now clients can participate through a fund which offers daily liquidity and minimized counterparty risk’.  

The Global Currency Programme invests in a diversified portfolio of 20 to 25 currency positions chosen from a universe of over 30 currencies.  The programme targets annualized returns of ten to 15 per cent with low volatility and has a track record of over eight years.

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