FX Managers

I'm curious, do you work for a FoF?

Beyond the ones you mentioned,there's the Friedberg Currency Fund, Moore also has a pure EMFX fund that has a few 100mm in AUM, Hatersage was founded by a market wizard, Capricorn FX is quite prominent in the pure FX space, Civic Capital is new and Vortex FX has a great track record but seems retail.

Another that comes to mind is Record Currency Management. ($30 b in hedging and various other strategies, mostly systematic i think).

Thanks, don't work at a FOF, just interested in some of these strategies and seems there's very few straight FX managers that stand out. I guess investors want exposure to rates / equities / bonds as well. It seems unusual though given that it's the deepest and most liquid market.

There's a bunch of currency hedging shops I know of like Millennium and Pareto as well but seems like very few hedge funds.

There are a few. Most have already been listed, and then there are other guys who trade purely FX at multi-manager macro funds according to a few people that I have talked to. From a discretionary standpoint I honestly can't see the advantage to this considering that FX recently has been a derivative of moves in other asset classes (usdjpy = nikkei late last year, at one point European banks and eurjpy traded much closer than they do now, audcad at one point was the HSI, a few of the older members here probably remember when audjpy = e-mini's and then for a while it transformed to eurjpy), and when FX is not moving like 80% of last year, you are very constrained.

True, but in the EM case I think FX offers great potential. For a GBP or USD based investor, over the past few yeas FX has been between a third and a half of the return on EM equities. Its a more liquid market and access costs are low (talking manager fees here). agree with cash4gold wrt to recent moves but broadly I think its a great field that will get even better once carry starts working properly