Excalibur's FX Absolute Return fund posted a positive result of +0.21% in July 2008, bringing 2008 YTD performance to +10.21%.
The manager's monthly report noted a difficult month for most funds, with the AUD/US hitting $0.9850, the highest level since the A$ was floated in 1984, and the AUD/Yen reaching a high of 104.50. The fund's open positions were on average 1.55x leveraged and the manager reported further fund inflows from European and Asian institutions for August.
Excalibur Funds Management is a Sydney based absolute return manager, following a 50/50 Systematic/Discretionary trading approach. The wholesale offshore Currency / Asian focused fund was established in the BVI in July 2006, and has a compound average annual return of over 26% with low correlation to other markets including the S&P.
