UK - Overlay Asset Management has launched a specialist fund to invest exclusively in emerging market currencies.
It aims to generate attractive risk-adjusted returns through active positions in a geographically diversified group of between 15 and 20 tradeable emerging national currencies.
It offers clients the opportunity to gain active currency exposure to a arge number of emerging markets without being exposed to the underlying debt or equity markets.
The investment strategy is a multi-strategy quantitative process designed to identify investment opportunities in emerging foreign exchange markets.
The process includes technical strategies to identify medium to long-term price trends; valuation-based strategies, using a combination of currency valuation techniques and a proprietary measure of investor risk appetite to determine the attractiveness of holding individual currencies;and return forecasting strategies, designed to capture FX movements from global capital flows also combined with a proprietary measure of investor risk appetite.
Helie d'Hautefort, managing director of Overlay Asset Management, which is a BNP Paribas partner, said: "Emerging Markets Currency Fund is a response to growing demand from experienced investors and it is part of Overlay Asset Management's strategy to offer a complete range of specialist currency programmes. This will allow our clients to select the parts of our investment products that match their investment requirements, risk appetite and investment objectives."
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