View more on these topics

Martin Currie plans to add hedged share class

Martin Currie plans to adds a hedged sterling share class to its 500m North America fund as a way of reducing currency risk.

The addition of the hedged share class follows changes made to the Coll (collective investment schemes) rulebook on March 6. This brought British rules into line with key European jurisdictions, namely Ireland and Luxembourg, which already allow hedged share classes to be offered in a fund.

Toby Hogbin, the head of product development at Martin Currie, says: Prior to this rule change it was not possible for investors to access a single sterling denominated fund investing overseas and have a choice of whether to hedge or accept currency risk unless the investor traded currencies outside the fund. The proposition can only benefit investors.

While Hogbin says that Martin Currie is actively planning to add the share class to the fund, managed by Tom Walker, he says he cannot be tied to a timeline on when it will happen.

There are complexities as to how to make the hedging work and in determining the process to follow for existing and new investors, he says.

The Financial Services Authority will also have to approve the share class.

Meanwhile, Andy Sowerby, Martin Curries managing director, told Fund Strategy that the group is working to expand its investment capabilities.

We have grown our market share significantly and have leading propositions in America, Asia, Japan and global equities. However, we have just 11 funds in our Oeic range and have room to add further products.

We are open to have discussions with active equity managers who have a proven track record of performance and asset raising.

Recommended

Navigating volatility

The making of any fund can be seen in how it responds to crises and opportunities. In this short video, Head of Multi Asset at Royal London Asset Management Trevor Greetham outlines how the Royal London Global Multi Asset Portfolios or GMAPs navigated through Brexit and the US election cycle. He also highlights the importance […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com