Refco and Abbey Capital to launch FX funds

Abbey will construct the portfolios, select managers and risk manage the funds. Refco will distribute them to institutional investors and be responsible for investor services.

"The high degree of liquidity inherent in managed futures and FX is very attractive to institutional investors," said Tony Gannon, chief executive and founder of Abbey Capital. "Also, when added to a traditional portfolio, managed futures may smooth out volatility and improve performance on a risk-adjusted basis."

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