Record Currency Management (“Record”), the specialist currency manager, has announced that it has been awarded a currency management mandate by Sunsuper Pty Ltd, the Australian superannuation fund.
The mandate is an active currency portfolio, the objective of which is to generate risk-adjusted returns using Record’s Currency Multi-Strategy product, a factor-based return-seeking currency investment strategy. The mandate size was approximately A$350 million at mandate inception, as referred to in Record’s Fourth Quarter Trading Update on 20 April 2018, since when the mandate has been funded.
While currency hedging focuses on risk mitigation, Record’s active currency strategies allocate across currency risk premia and are return-seeking in nature, designed to capture the main drivers of return in currency markets.
James Wood-Collins, Record’s Chief Executive, commenting on this mandate award said: “We are delighted to have been selected by an institution as highly regarded as Sunsuper. 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. We look forward to continuing our engagement with Australian investors, in respect of both return-seeking and hedging opportunities.”
For further information, please contact:
Record Currency Management
James Wood-Collins, Chief Executive Officer Tel: +44 (0) 1753 852 222
MHP Tel: +44 (0) 20 3128 8100
Nick Denton record@mhpc.com
Ollie Hoare
James Morgan
Robert Collett-Creedy
Notes to Editors
Record is a specialist currency manager and provider of currency hedging services for institutional clients. Founded in 1983, Record has established a market leading position as a currency manager. Specifically, the Group has a leading position in managing Currency Hedging and Currency for Return for institutional clients.
The Group has four principal reporting lines:
- Passive Hedging, where Record seeks to eliminate fully or partially the economic impact of currency movements on elements of clients’ investment portfolios that are denominated in foreign currencies;
- Dynamic Hedging, where Record seeks to eliminate the impact of currency movements on elements of clients’ investment portfolios that are denominated in foreign currencies when these movements are expected to result in an economic loss to the client, but not to do so when they are expected to result in an economic gain;
- Currency for Return, in which Record enters into currency contracts for clients with the objective of generating positive returns; and
- Multi-Product, where the client mandate includes combined hedging and return-seeking objectives.
Record is authorised and regulated by the Financial Conduct Authority and is registered as exempt with the Australian Securities & Investment Commission. Record is a registered Investment Adviser with the Securities and Exchange Commission in the US, a registered Commodity Trading Adviser (swaps only) with the US Commodity Futures Trading Commission, and an Exempt International Adviser with the Ontario and Alberta Securities Commissions in Canada. Record plc (LSE: REC) was admitted to trading on the London Stock Exchange on 3 December 2007.