Barclays Global Investors (BGI) announced this week that it has launched two new hedge fund offerings, the BGI Currency Fund (US$) and the BGI Currency Fund (Euro).
The funds, which were launched last Wednesday, will each initially invest in 11 currencies, with a target alpha (which is a coefficient measuring the risk-adjusted performance, which considers the risk due to the specific security, rather than the overall market) of 8% net of fees, and a target risk of 10-12%. The minimum investment is 250,000 euros (approximately US$282,764).
Speaking on Monday, Mark Fitzgerald, director of BGI's Alternative Investment Group announced that:
'BGI's success in hedge fund strategies has made it a major player in the hedge fund world...the Currency Funds will enhance BGI's product offering in the hedge fund space.'
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