View the article online at http://citywire.co.uk/wealth-manager/article/a731307
Lyxor reduces fees on flagship managed futures fund
by Robert St George on Jan 30, 2014 at 12:07
Lyxor has acted to reduce the costs on its managed futures fund amid a difficult run for such strategies.
The £128 million Lyxor Epsilon Managed Futures fund has cut the management fee on its class A shares from 1.94% to 1.5%, and its performance fee from 20% to 10%. On class B shares, the management fee has dropped from 3.94% to 1% and the performance fee from 20% to 15%.
Managed futures funds have endured a torrid period, with the Newedge CTA index losing 5% over the past three years.
Yet within that environment, Lyxor Epsilon Managed Futures has fared better than most, returning 13.3% through the year to the end of November while the Newedge CTA index rose by just 0.2%.
Lyxor attributed the strong recent performance in particular to its equity and currency positions, including long contracts on US markets and a short bet against the Australian dollar versus the US dollar.
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