June brought losses for most currency managers - although most have recorded a positive return so far this year.
The two best-performing funds in June are also leading the pack on a six-month basis. Dacharan Capital Foreign Exchange High Exposure is up 50.74% year-to-date and posted a 5.87% gain last month. The Cambridge Strategy's Emerging Market Alpha Programme lost 0.71% in June, resulting in 18.79% for the first half.
IKOS FX lost 91bp in June but remains up 16.36% YTD. Harmonic Alpha Plus made 1.52% last month and is up 1% YTD. GAM Currency Hedge Fund - Discretionary lost 49bp