Forex funds see May boost

NEWS

STAMFORD, CT -- Currency fund managers reported healthy gains in May, according to the Parker FX index.

Nearly 70% of the funds in the index reported positive results. The top performer was FX Concepts of New York, which finished the month up 10.68%.

"Performance was strongest in the pairs that produced the biggest losses the previous month," said Philip Simotas, senior vice-president at FX Concepts. "Chief among these was the euro/yen cross, where the portfolio held its largest position and s