FX Week

Funds struggle as market trend ends

Jens Kothes, partner of Compucom Finance in Zurich, the top performing fund for the month, said: "In January euro/US dollar changed from a trending market into a sideways, high-volatility market. We were able to take advantage of the sideways action by using countertrend methodologies."

As a result, Compucom generated a return of 9.67% for the month.

The returns for start-2004 fall well short of December performance, which capped the best year for currency funds since 1997. The Index was up 2.