New currency hedge fund launches in Singapore

Rhicon Currency Management begins trading its global forex fund in tough market conditions.

Three ex-Swiss bank currency traders have teamed up to launch the Rhicon Global Forex Fund, a hedge fund headquartered in Singapore and focusing on G7 currencies. It is one of very few pure currency hedge funds in the region and has launched in particularly difficult market conditions.

Following the meltdown caused by the September 11 attacks on the US, the fund opened with a small $1.5 million in investments from private individuals but the fund's managers, Rhicon Currency Management...

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