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Years of forex market calm sends currency funds to the wall

“Having a standalone currency fund wasn’t working in a world of QE,” said Adrian Owens, who managed the GAM fund” writes Midwest Communications Inc for Merk’s $6.7 million fund was one of the 10 currency mutual funds to shut this year, following 17 closures in 2018, Morningstar said.Once, and if, volatility returns, investors waiting on the sidelines will likely get back into the game.For currency investment funds it was yet another episode of volatility gauges flickering to life briefly, then subsiding.The U.S.-listed Global Currency Fund closed to investors in June and is to be liquidated in October, while a sister fund listed in Luxembourg will shutter in September.

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