Independent Currency Managers Turn Tables As Banks Start Farming Out Proprietary Funds

SERVICES

While commercial and investment banks have been drawing on their foreign exchange trading expertise to get into the fund management business, independent currency fund managers, it seems, are beginning to return the favor. In a move to diversify their risk and trading strategies, banks are starting to farm out some of their proprietary funds to independent currency managers.

One well known manager, FX Concepts in New York, currently has some $120 million under management for three clients: tw