Henderson Global Investors has launched a UCITS III-compliant Hor
Henderson Global Investors has launched a UCITS III-compliant Horizon Global Currency Fund, with a focus on G10 and emerging market currency pairs. The Lux-domiciled SICAV will be managed by Bob Arends and his 5-strong currency team and will employ a quantitative approach to selecting the most attractive global currency pairs. It is believed that the portfolio will be weighted 70% towards G10 currencies, using 45 currency pairs. The fund’s emerging market segment, 30% weighted, will use 19 investable currencies and will be paired against the US dollar. Regarding target size, Arends says via email: “Considering the depth and liquidity of the currency markets, we see a maximum capacity constraint for this strategy at USD 2 billion.” “The fund has the potential to add alpha to an investment portfolio while decreasing correlation and overall risk,” he adds further.
