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SWIP Launches Currency Alpha Fund

Nick Parmee 18 January 2011

SWIP Launches Currency Alpha Fund

Edinburgh-based Scottish Widows Investment Partnership has launched a Currency Alpha fund. Aimed at the discretionary market, the fund was developed for investors looking for consistent returns and diversification from bonds and equities.

The fund will be managed by Roddy Macpherson, investment director, currencies. It hopes to take advantage of opportunities in the currency markets and will be based on a quantitative model which SWIP has run internally for the past three years.

The fund will maintain exposure to a diversified portfolio of developed market currencies, including sterling cash assets. It will be denominated in sterling but with the provision to add euro share classes. It will be a limited issue fund capped at £400 million (about $636 million) and will be subject to a performance fee.

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