GLOBAL - Investec Asset Management has enhanced its currency fund range, launching new US dollar and euro share classes to sit alongside the existing pound sterling share class.
It added, by using traditional money market deposits and actively managing currency exposure, investors were given an opportunity to achieve cash-plus results in the current environment, as well as a diversified source of return uncorrelated to other major asset classes.
The company said the fund managers would have an internal target whereby they seek to provide a 2-3% gross return per year over the relevant LIBOR benchmark.
Investec UK Distribution managing director David Aird, said: "Following the recent interest rate cuts by the Bank of England, base rates now stand at 1.50% and may be heading lower.
"By actively managing currency we seek to generate returns of 2-3% in excess of what investors would receive on money funds."
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