London and Sydney-based Macro Currency Group, the currency investment boutique of global asset management firm Principal Global Investors, has launched the UCITS-compliant, Dublin-registered Principal Global Investors Funds Multi-Strategy Currency Fund.

The fund - managed by Mark Farrington and Dr Ivan Petej - is open to a “broader cross-section of investors” and its launch reflects investors’ “growing acceptance” of currency as a primary portfolio component, the firm said in a statement.

The firm additionally said that it is the first fund to combine alpha and beta income streams within one product offering, which is designed to “reduce the asset allocation burden on investors looking to allocate across strategies and styles”.  

“In recent years we have seen a shift towards exchange-traded funds designed to capture certain segments or themes of the market. This has placed the burden on investors to make multiple asset allocation decisions, something that not all investors are confident doing,” said Mark Farrington, portfolio manager and head of Macro Currency Group.

The firm's flagship Principal Global Opportunities Series Macro Currency Fund was up by 19.7 per cent at the end of last year, it said, posting an improved three-year return of a 7.8 per cent (annualised).