LCJ was launched in 2007 as an independently managed investment boutique by Conor MacManus, Jonathan Tullett and Leonora Kerry Keane. The co-portfolio managers, Conor MacManus and Jonathan Tullett, have between them over 37 years of experience working and trading in FX markets which we believe provides the foundation for success.
The LCJ FX Fund Strategy investment universe includes major currency pairs, non-traditional crosses, and emerging market currencies. Employing a diverse range of market data and analysis, and extensive experience of FX Markets, we identify attractive medium-term and long-term opportunities, through which we seek to provide a favorable risk-return profile while protecting capital.
Since inception the Strategy has been managed through a variety of different economic and market conditions, and has consistently produced long term class-leading risk-adjusted returns utilizing a robust risk management framework.
Looking back at 2014, we are happy to report that despite difficult trading conditions in the first two quarters, we finished the year up 10.80% net, maintaining our consistent long term performance track record during what has been a challenging period for the asset class over the past few years, and we were again nominated for an EuroHedge Award (Commodity & Currency), following our previous nomination in 2012.
As we moved into 2015, we anticipated the environment being better suited to our Strategy, with the rising volatility and macro factors in play driving divergence between currencies, which allows the Strategy to further capitalize on medium term trends. This has turned out to be the case, despite a dramatic start to the year in January with the removal of the CHF floor by the Swiss National Bank, and a tumultuous August ignited towards month end by the unexpected mini-devaluation of the Yuan by China, we are pleased to report that we have successfully navigated the LCJ Macro FX Strategy through these events in the year to date, highlighting the strength of our risk management, and have made positive returns in 6 of the 8 months to August, resulting in a net gain of +7.84% YTD.