Quay Global Investors launches currency hedged fund

Real estate fund manager Quay Global Investors has launched a currency hedged fund, the Quay Global Real Estate (Hedged) fund, to meet investor demand.

Quay’s existing unhedged Quay Global Real Estate fund was renamed to the Quay Global Real Estate (Unhedged) fund but its investment team, objectives and processes remained unchanged.

Chris Bedingfield and Justin Blaess, co-principals and portfolio managers at Quay, said increasing client demand had led to the introduction of a hedged product.

Bedingfield said: “We know a number of our clients want a mix of hedged and unhedged in their portfolio, and some like to manage currency positioning themselves.

“While we continue to believe an unhedged strategy will result in lower volatility and is less risky during times of market disruption, we’re committed to making our strategy available to anyone who wants access to the attractive and growing investment themes of global real estate.”

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Blaess explained the hedged fund would be managed according to the same investment strategy as the unhedged fund, which returned 13.92% per annum as of the end of last year, after fees and expenses.

“We’ll continue to manage both funds in line with our proven strategy, aiming to deliver attractive total returns over the long term,” he said.

“The hedged fund, however, aims to mitigate the impact of currency by hedging foreign currency exposure.”