Currency hedge fund sets sight on Switzerland
U.K.-based currency trading hedge fund manager C-View is gearing up to tap Swiss institutional investors by teaming up with MCAM Group, an alternative assets marketing firm based in Geneva, according to Global Money Management, a sister publication of EuromoneyFXNews.
U.K.-based currency trading hedge fund manager C-View is gearing up to tap Swiss institutional investors by teaming up with MCAM Group, an alternative assets marketing firm based in Geneva. "In most recent times our clients have been mostly institutional investors from the U.S., but pension funds in Switzerland, Scandinavia and Asia have expressed interest," Peter Knowles, chief operating officer at the Hertfordshire-based hedge fund, told GMM.
At the moment the manager has no clients in Switzerland. It plans to target the entire region from the marketing base in Geneva and expects its offering to attract the attention of local institutions.
"Foreign currency exchange (FX) is becoming more and more attractive as an asset class, especially with the equity scenarios at the moment, plus the low interest rates," Knowles said. He added that incidences of volatility in the FX market can produce "good opportunities" for investors in the asset class.
C-View holds USD356 million in institutional assets under management and has ambitious growth plans. "We would most likely adapt the programme on achieving USD1 billion to account for any liquidity constraints," Knowles elaborated.
The flagship Currency Management Account Program (CMAP) has outperformed the Barclays Currency Index in 112 out of 127 rolling three-year periods since its inception in 1996. The annualised accounting rate of return (AROR) was 11.24% in March.
"C-View is widely considered as one of the most respected names in the discretionary managed currency space," said Lars Bjoergerd, managing director of MCAM Group in Geneva.
Last October, C-View CMAP was one of the first to join Morgan Stanley’s new currency managed account platform FX Gateway. It is also available through Deutsche Bank’s FX Select platform. It trades up to 30 currency pairs, including emerging markets, and offers clients the option to restrict particular currencies.