Redtower Offers Currency Hedge Fund

May 21 2008 | 11:43am ET

London-based Redtower Asset Management has launched a currency hedge fund, the Redtower Global Macro Fund, which aims to exploit global macro themes by seeking relative value in currency relationships through investment in currency pairs. 

The fund will be managed by Redtower chairman Gerry Celaya, who previously held senior technical analysis roles at American Express Bank and Bank of America, and Jane Foley, a former director of foreign exchange research at Barclays Capital.

Celaya said the fund will be able to invest up to 80% of its portfolio in emerging market currencies to profit from the fastest-growing economies.

“Now is a particularly exciting time for us to launch the fund as recent market turmoil has created a wealth of investment opportunities,” he said.

Redtower Asset Management was formed in 2007 and is the asset management division of Redtower Research, a financial data provider.


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