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Investec launches hedged share class for US fund

Investec Asset Management has launched a hedged share class for its American fund to remove currency fluctuation risk for British investors.

It will hedge dollar exposure back into sterling, protecting them from any falls in the exchange rate.

Dalton Strategic Partnership launched a similar share class for its Melchior North American Opportunities fund in 2006.

In a release, David Aird, managing director at Investec, says: Investors and their advisers concerned with dollar fluctuations relative to sterling can now decide which share class is most appropriate for their allocation. They can select either the new share class with US dollar currency risk removed, or invest in the unhedged share class if they anticipate an appreciation in sterling against the US dollar.

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