Aug 20 2015 | 8:28pm ET Quantitative investment manager Dacharan Advisory's flagship currency fund has gained 24% so far this year and closed to new capital back in May, according to a Reuters article citing the company’s founder. The Dacharan FX High Exposure Fund often trade approximately $1 billion per day in notional capital, making directional wagers across G10 foreign exchange spot and forward markets. Holding times for the systematic hedge fund can range from a few hours to several days, according to Dacharan CEO David Beddington. The average YTD return for currency managers as reported by industry data provider Eurekahedge is 6.34%. Dacharan’s fund launched in May 2008 through the company’s Dacharan Capital (Jersey) Limited. It has posted annualized net returns of 19%, according to Reuters, although total assets under management have not been disclosed. Offering documents for Dacharan in May 2008 suggested the firm was looking to raise $200 million. "We haven't put a date on (reopening) the fund to new money, but given an aggressive turnover in the book, we want to make sure the market can absorb our capital without a market impact," Beddington, who formed Dacharan after working as the director of marketing for London-based Shooter Fund Management, told Reuters. Dacharan is based in Zug, Switzerland.