Sunsuper gives Record $350m currency mandate
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.
AUTHOR
Staff Writer
Recommended for you
Apostle Funds Management has appointed the newly created position of director, head of wholesale as the firm expands its Australian footprint in the wholesale sector.
Recruitment manager Robert Half has shared the most in-demand roles in financial services that firms are finding difficult to fill, driven by ASIC’s growing focus on risk and compliance.
ASIC chief executive, Warren Day, is among senior executives to depart the corporate regulator amid changes to its leadership team.
Iress has completed the sale of its platform business, bringing $4.1 billion in funds under administration over to Praemium.
