A strong start to 2005 for Currency Manager Capricorn

In the first month of the new year Capricorn has increased its assets under management by US$4.88 million (this includes a proprietary bank allocation), totaling US$30.7 million for the three FX Programs on 31st January 2005. As a result, Capricorn FX3x has exceeded the US$20 million level for the first time since the programs inception in January 1999.

Through strong performance and effective marketing of the currency programs Capricorn is hoping to continue this positive momentum for the 1st quarter of 2005. Currently, Capricorn has written an article for the Managed Funds Association’s magazine, the MFA Reporter. The article on “Trading Foreign Exchange Electronically: The Challenges and Opportunities as an FX Advisor”, will feature in the January/February 2005 issue that is circulated to its members. The MFA is the global voice for the alternative investment industry representing a diverse group of members, including hedge funds, funds of funds, futures funds, CTA and CPO professionals, as well as the service providers who support the hedge fund industry.

Furthermore, in mid January Capricorn was interviewed by Managed Account Reports, (a wholly owned subsidiary of Metal Bulletin Holdings Corporation) as part of its monthly publication on the Managed Futures industry, MAR. Since 1979, MAR has been the pre-eminent source of qualitative and quantitative information on the global managed futures and derivatives marketplace. A subscription to MAR provides a global look at trading advisors and the monthly performance of hundreds of private pools and publicly offered funds.

Capricorn is an FX-only Investment specialist. For further information please access our website at; www.capricornfx.com.