Old Mutual Launches Currency Hedge Fund

Jan 26 2009 | 12:15pm ET

Old Mutual Asset Managers has added to its hedge fund portfolio with the launch of the Old Mutual Currency Fund. The fund, which was launched in early December and uses a multi-signal quantitative model, had been managed within OMAM’s incubator since March 2007.

The fund invests in 11 major currencies (those of the Group of 10, plus the Singapore dollar) through spot and forward contracts. The management team is led by Jinhui Luo, who joined OMAM in 2005 from Barclays Global Investors, where he focused on foreign exchange modeling and portfolio construction.

“The use of both qualitative and quantitative signals relating to macroeconomic and financial market developments, trading conditions and risk appetite allows extreme market events to be assimilated into the portfolio construction process as quickly as possible enabling us to continue to deliver positive returns during a period in which many hedge funds have struggled,” said Luo.

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