FX Week

Funds find profits elusive in November

While two thirds of the 45 funds on the index reported positive returns, the Index was up by just 0.80%.

DynexCorp of Geneva, top performer with a rise of 6.06%, said it had made gains from its strategy on euro/dollar, and the belief that the euro hitting $1.15 would not result in similar falls to those seen when it hit that level in June.

"As euro doom and gloom set in, we went against the fast build-up of euro bears, trusting our contrarian toolbox, and went long," said chief executive Pete