The two main types are the self-administered currency scheme and the managed currency fund.

These passively managed funds are designed to provide an efficient mechanism for investors to buy local currency funds.

The growth of speculative currency funds has been considerable.

That caused the dollar to fall relative to the Deutsche mark, pushing up the value of German currency funds.

Money Management contains full details of the performance of a wide range of managed and single currency funds.

In such instances a managed currency fund or an umbrella fund offering a choice of separate currencies would be more appropriate.

In order to gain access to hard currency funds the factory began to manufacture instruments for export.

A currency fund is essentially a money market fund that invests overseas.

From 1988 to 1993, the currency funds underperformed world bond funds every year except one.

So far this year, with bond markets suffering in most countries and stock markets mixed, the total returns from currency funds have been quite good.