FX Concepts to Launch New UCITS Fund
New York-based currency manager FX Concepts has announced the launch of a new Luxembourg-domiciled fund investing in its flagship Global Currency Programme (GCP). The fund has been set up in conjunction with Deutsche Bank.
The new fund offers daily liquidity and has a €25,000 minimum. Investments are fully collateralised and ring-fenced in accordance with the UCITS III directive. The fund will offer share classes in euro, US dollars, sterling and yen.
The GCP invests in a diversified portfolio of 20-25 currency positions chosen from a universe of over 30 currencies. The programme targets annualised returns of 10-15% with low volatility and has a track record of over eight years.