Tuesday, 30 September 2014
Last updated 2 hours ago
Oct 26 2010 | 1:15pm ET
Fresh from combining its asset management businesses, Swiss bank SYZ & CO has launched a high-yield currencies hedge fund.
The new UCITS III-compliant OYSTER ForExtra Yield EUR is actually a sub-fund of SYZ's OYSTER SICAV. The new vehicle is designed to profit from high interest rates paid by certain currencies while avoiding the main drawbacks of most foreign exchange funds.
The ForExtra sub-fund will invest in forward forex contracts for the five currencies SYZ believes have the best risk/return ration each month. The strategy, developed by SYZ chief economist Fabrizio Quirighetti, has been tested—successfully, according to the bank—for the last two years as part of a JPMorgan Chase structured product.
This month's currencies are the Brazilian real, Indian rupee, Polish złoty, South African rand and Turkish lira.
The fund has low correlation with traditional asset classes and uses no leverage, SYZ said. It is currently only available to institutional investors, but the firm plans to register it in a variety of European jurisdictions to make it available to retail investors.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
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