The mandate was an active currency portfolio, which would aim to generate risk-adjusted returns using Record’s Currency Multi-Strategy product, a factor-based currency investment strategy.
Unlike currency hedging, which would focus on risk mitigation, Record’s active strategies would allocate across currency risk premia and, as return-seeking products, were designed to capture the main drivers of return in currency markets.
Record chief executive, James Wood-Collins, welcomed the establishment of a mandate in Australia.
“Currency Multi-Strategy passed its fifth anniversary in 2017, and we are very pleased to add an Australian client to our existing Multi-Strategy client base,” he said.
“We look forward to continuing our engagement with Australian investors, in respect of both return-seeking and hedging opportunities.”
The mandate was referred to in Record’s fourth quarter trading update on 20 April, and had since been funded.