American Express Bank Launches New Global Currency Management Account

FUNDS

American Express Bank Ltd. has launched a new currency management "account" for wealthy individuals and smaller institutions using FX Concepts, Inc., Fintech (U.K.) Ltd., Compucom Finance Inc., and GK Capital to manage the funds, sources say.

The American Express Worldfolio Currency Management Account (CMA) offers 12 investment "cycles," all with a six-month expiration period. The "fund of funds" was launched November 1, managed by New York City-base FX Concepts and the second, launched Decem