NAB Survey Highlights Growing Internalisation at Fund Managers

As well as highlighting a greater focus on currency amongst managers, the NAB 2019 Superannuation FX Survey also highlights changing FX business structures at funds with a growing number taking more care over their execution policies. The survey confirms the 2017 survey’s finding that currency risk is an important consideration in their investment decisions in […]
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NAB Superannuation FX Survey Highlights Currency’s “Coming of Age”

NAB’s ninth biennial Superannuation FX hedging survey highlights what Ray Attrill, head of FX strategy at the bank, terms “seismic shifts” in how managers of the fourth biggest pension pool in the world, think and handle their currency exposures. “The fact that the majority of managers are now thinking of currency through the same lens […]
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Union Investment Starts Trading Eurex FX Futures

European asset manager Union Investment has started trading Eurex FX futures after the firm says it saw “growing traction in the product as part of their overall FX portfolio strategy”. Eurex offers monthly and quarterly FX Futures as well as Rolling Spot Futures as a component of Deutsche Börse Group’s FX strategy. “We are now […]
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Hermes Looks to Northern Trust for FX Services

Northern Trust has announced it has been appointed by Hermes Investment Management to provide currency management services for its Irish fund range. The bank’s service comprises portfolio overlay, share class hedging and ‘look through’ hedging solutions to help asset managers and asset owners manage and mitigate currency volatility, while actively supporting distribution strategies. It adds […]
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Hedge Fund Manager Fined for Mis-Valuing Swaps

The Commodity Futures Trading Commission (CFTC) has issued an Order filing and settling charges against Swapnil Rege, a former portfolio manager for Connecticut-based hedge fund Marinus Capital registered with the CFTC as a commodity pool operator (CPO), for fraudulently mismarking swap valuations to artificially inflate the profits of his employer’s trading book in order to obtain […]
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CTAs Bounce Back in June

Commodity Trading Advisors (CTA) posted a 1.59% return in June, according to the Barclay CTA Index compiled by BarclayHedge, a division of Backstop Solutions. This follows a difficult month in May for these funds, when the Barclay CTA Index was down 0.19%. Year-to-date, the index is now up 3.84%. “Recession fears coupled with market anticipation […]
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Elwood Partners with Invesco Japan for New Fund

Elwood Asset Management, an investment firm specialising in digital assets, has partnered with Invesco Asset Management (Japan) to help it launch a new fund. The newly launched Invesco Global Blockchain Equity Fund will be managed by Invesco Capital Management, with a delegation from Invesco Japan, and will track the performance of the Elwood Blockchain Global […]
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Survey Highlights Treasurers’ Concerns Over Visibility of FX Exposures

A new survey from Citi shows that gaining visibility of their FX exposures remains a core concern for corporate treasurers. In the survey, which includes responses from 400 corporates of varying sizes, industries and geographies, improving cash forecasting was cited most frequently as the top priority amongst these firms. “Firms are recognising that they still […]
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And Finally…

Are we undergoing a sea change in the FX trading landscape? I suspect we are but the direction in which change is heading will be familiar to those of a certain generation. Over the past few months I have had many conversations with FX traders about market conditions and while there is a fair bit […]
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Cryptoasset Manager Granted FCA License

Prime Factor Capital (PFC), a London-based cryptoasset management firm, has been granted a license by the UK’s Financial Conduct Authority (FCA) to operate as a full-scope Alternative Investment Fund Manager (AIFM). Under the EU’s AIFM Directive (AIFMD), full-scope AIFMs may manage in excess of €100 million in assets, allowing PFC to begin accepting institutional-size tickets. […]
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