Richmond launches currency fund for Asia

The fund, which will be overseen by Dialdas and Richmond’s founder Graham Bibby in Hong Kong, builds on the existing cash management service Richmond offers. That service uses only five major currencies (euro, US dollar, Australian dollar, Swiss franc and sterling) to maximise returns in the base currency by profiting from other currencies’ relative strength. It was launched after the US dollar began weakening in 2001, and achieved a return of 7.95% in 2002 and 22.58% in 2003. However, it ha