Tag: currency management

currency management

QCAM Adds Directors, Adds to EB

Currency management firm QCAM Currency Asset Management has named three new members of its Supervisory Board and unveiled the appointment of Martin Pendert to its Executive Board. Gary Klopfenstein, Hélie D’Hautefort and Ekaterina Schiess are joining the Supervisory Board, Klopfenstein has previously served as an advisor to the firm and is chairman of Chicago-based GK […]

Mesirow Breaks the $100 Billion Barrier for Currency Management

Mesirow Financial says that its currency management group has surpassed $100 billion in assets under management as of December 31, 2019. The firm says currency is one of the biggest risks for institutions investing abroad and, as more money is put to work overseas, this risk continues to grow. As a result, a significant demand […]

Neuberger Berman Launches New FX Fund

Neuberger Berman is launching a new FX-focused macro fund. The Neuberger Berman Macro Opportunities FX Fund aims to deliver positive returns of 5–6% in excess of cash per annum before fees, primarily by exploring relative value across G10 currencies. The firm says that the fund’s investment strategy is based on an established process, which has […]

Adrian Lee & Partners Launches New Fund

Adrian Lee & Partners (AL&P) has launched a new fund, the Global Macro Alpha Fund. The firm says the fund was launched in response to client demand and seeks to generate consistent excess returns for institutional investors through diversification of macro asset class, region and alpha source, while minimising risks and volatility. The fund is […]

New Mesirow Fund Incorporates Currency Alpha and High Yield

Mesirow Financial has announced the launch of its third mutual fund, the Mesirow Financial Enhanced Core Plus Fund, which will be led by its core fixed income team and will leverage the expertise from two of Mesirow’s other institutionally focused investment and alternative strategies – Currency Alpha and High Yield Fixed Income – to offer […]

The Money Makers

Galen Stops talks to some veteran currency managers about generating returns in a world of reduced FX trends, increased regulation and evolving investor demands. Talking to individuals that have been actively trading in the foreign exchange market since Profit & Loss was launched in 1999 – and in some cases before then – it is […]

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 […]

In the FICC of It

In this week’s podcast Galen Stops explains the devil in the detail behind the SEC rejecting bitcoin ETFs, the changing market structure in crypto generally, and how market participants are going about institutionalising the new asset class.
Colin Lambert meanwhile, is in a punchy mood and wants to take everything and everybody to task.
They observe how crypto-strategists are just the same as fiat strategists; discuss the barriers to entry for currency managers; the pricing of credit and liquidity in FX; and Lambert in particular has a problem with investors’ approach to allocating to hedge funds.

Mesirow Expands with TCS Acquisition

Mesirow Financial has agreed to acquire assets of The Cambridge Strategy (Asset Management) (TCS) a UK-based currency alpha investment firm.
TCS was co-founded by Peter Henricks, CEO, and Russell Thompson, CIO, in 2003, and offers currency alpha strategies for return-seeking investors. Headquartered in London with offices in Hong Kong and Monaco, TCS has over $3 billion in assets under management in passive and active strategies.
The TCS team will be incorporated into Mesirow’s existing global currency team, all reporting to Hoffman.

A Different Kind of Alpha

Even when implementing passive currency hedging strategies, it’s still important to think in terms of alpha, explained Jay Moore, a senior vice president at Brown Brothers Harriman (BBH), during a panel discussion at the Profit & Loss Forex Network New York conference.

Although this might initially seem to be a contradictory statement, Moore explained that providers of passive hedging services can differentiate themselves both through risk management and what he termed “operational alpha”.

While portfolio risk obviously isn’t a concern when implementing passive currency strategies, Moore explained that there is a strong focus on managing other types of risk, such as regulatory risk, operational risk and managing the fiduciary risk that managers have on behalf of the funds that they outsource to firms that are providing the passive hedging.