Currensee, the first social network that offers a unique “follow thy trader†program, has reached a significant milestone with institutional partners: over 100 such partners already offer this program to their clients.
The Boston based company also mentions that during the last year, the cumulative performance was better than the benchmark S&P and also gold. Looking at the past 6 months that ended on March 31st, the cumulative return was 23.9%.
Currense recently added Adantia LLC to the Trade Leaders Network.
Full disclosure: Forex Crunch is affiliated with Currensee. You can join the Trade Leaders program here.
For more details, here’s the full press release:
More Than 100 Institutional Partners Now Offer Currensee Trade Leaders Investment Program to Investors
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Alternative Investing Program Revolutionizes Managed Accounts Business
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BOSTON – April 11, 2012 – Currensee (www.currensee.com), the industry’s first foreign exchange (Forex) alternative investment service, today announced that it has inked partnership deals with more than 100 institutions. These businesses are now actively marketing the Currensee Trade Leaders™ Investment Program to their client bases, which include asset managers, hedge funds, family offices, introducing brokers and other financial institutions. This first-of-its-kind alternative investment program provides investors and financial institutions with access to the uncorrelated returns of the Forex markets by building their own “funds†of emerging Forex managers called Trade Leaders.
Launched in October 2010 for retail investors and then in November 2011 for institutional investors and their clients, the Trade Leaders Investment Program now has more than $30 million in assets under management, with more than $26Â billion in volume traded through the service.
“The abundant liquidity of the Forex markets has given rise to a new breed of professional-level traders,†said Javier Paz, Aite Group senior analyst. “This development along with the popularization of trade-replication technology and prudent copy-trading rules are the biggest developments in institutional investing since the creation of hedge funds.â€
Core to the program’s success is the performance of Trade Leaders, the elite network of emerging Forex managers recruited by Currensee through a series of rigorous analyses and due diligence practices. Currensee delivers Trade Leaders’ performances, risk management practices, trading strategies and other information through detailed Trade Leader profiles. Investors in the program build diversified portfolios of Trade Leaders, and when the Trade Leader trades, those trades are automatically executed in the investors’ accounts. Financial institutions have access to robust controls that help them manage investor risk in real time.
During the last year, the Currensee Trade Leaders cumulatively outperformed other popular investments such as the S&P 500, Gold and the Barclay CTA Index. For the six-month period ending March 31, 2012, the Trade Leaders averaged a 23.9-percent cumulative return compared to Gold, which returned 2.5 percent.
“Institutions recognize that Currensee is revolutionizing the managed accounts business,†said Currensee CEO Dave Lemont. “By providing institutions with the ability to manage multiple managers in the same account, make allocation decisions in real time and implement robust risk management controls, we’ve created a groundbreaking offering that changes the entire industry.â€
