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.”