Capricorn Launches Offshore Forex Funds

by Carla Johnson, Investors Offshore.com

28 February 2007

Geneva-based foreign exchange manager Capricorn has launched a fund for its two forex strategies which will enable clients to invest into the programs with the added security of the investment being professionally administered with an annual audit.

The two Offshore Fund vehicles will have Fund Advisers SA, Geneva, as fund administrators, and Moore Stephens, Geneva, as fund auditors.

The Fund based on Capricorn's short term, discretionary program, named Capricorn fxST (Aggressive) SP013, has a weekly subscription period with a monthly redemption following a 2 day notice period. The Fund based on Capricorn's medium term, systematic program, named Capricorn fxMT (Aggressive) SP016 has a monthly subscription and redemption period, following a 2 day notification. Both Funds are domiciled in the Cayman Islands.

Fund Advisers SA of Geneva, a Swiss regulated and independent financial consultancy, will administer the funds, providing investors with a weekly NAV calculation. The Geneva office of Moore Stephens SA, a member of the Swiss Institute of Certified Accountants and Tax Consultants is the fund auditor.

Capricorn is an established currency manager with clients that include; banks, institutions, investment funds and HNWIs. As of 2007, Capricorn’s discretionary programs, which were renamed to Capricorn fxST (Growth) and fxST (Aggressive), have a combined AUM of over $50 million. The strategy has an eight year track record, and has over the years been included in; Deutsche Bank’s FXSelect, SE Banken’s currency platform, ABN Amro’s FX Directory, Parker Global Strategies currency index, and the Mercer Currency Index.

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