LV= Asset Management is launching a hedged share class for its European ex-UK Growth fund, to minimise currency risk for investors.
The sterling hedged share class will launch tomorrow, allowing clients to manage exposure to the euro at a time when the outlook for the currency is uncertain.
LVAM is offering free switches between the two share classes, allowing investors to express currency views without incurring any capital gains tax liability.
The group says the launch is in response to demand from institutional and discretionary clients.
Recently-hired head of sales, Matthew Wright, says: "We know that there is demand for this type of product from clients and indeed, we already have strong pipeline interest ahead of bringing it to market."
The management fee is 0.55% and maximum initial charge 5%. The estimated TER at launch will be 0.79%.
LV= European ex-UK Growth is managed by head of European equities, Mark Page, and has been in existence since May 2003. Over the past three years it has ranked 24th out of 94 funds, returning -3.7% compared to the Europe ex-UK sector average of -8.9%, according to Morningstar.
