Host Capital, the London headquartered independent authorised corporate director, has launched what it claims is the UK's first regulated and domiciled currency fund. 

The Host Capital Global Currency Fund is structured as an OEIC and uses a systematic modelling approach, investing in the Citi Carry & Value Index. The index invests in six underlying indices, which provide exposure to both developed and emerging market currencies.

The fund will be overseen by Derek Taylor, who joins Host Capital with over 35 years experience in currency management.

The standard A share class has an annual management charge of 0.8 per cent and a minimum investment of £25,000 ($39,240), while the institutional B share class has an annual management charge of 0.65 per cent, with a minimum investment of £250,000 ($392,400).

Special discounted terms are available for subscriptions received during the offer period only from 1 October to 18 October, and are provided through the standard C and institutional D share classes.

The standard C class shares have an annual management charge of 0.65 per cent and a minimum investment of £25,000 ($39,240), while the institutional D share class have an annual management charge of 0.45 per cent and a minimum investment of £250,000 ($392,400).

“Contrary to popular belief, currency markets are not dominated by currency speculators. In fact the majority who play in this space are simply looking to hedge FX liabilities in one form or another. This provides us with a significant opportunity to actively invest in currency with a view to delivering capital returns," said Chris Finch, managing director of Host Capital.