Funds seek new ways to manage currency

Peter Wakefield, managing director of research and product development at UKfirm Record Currency Management in Windsor, said: "The ways all forms of funds are using currency management are becoming more sophisticated.

"There is a frantic search for return, because people have been burnt by the equity market," he added, "so they are using more complex approaches aimed at return but without traditional risks."

One development is the use of ‘overlay-on-overlay’, whereby a currency manager adds

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