Schroders to launch first currency fund

Schroders is launching its first currency fund next month for Clive Dennis, who joins from Morgan St...

Schroders is launching its first currency fund next month for Clive Dennis, who joins from Morgan Stanley. The group will be establishing a new currency team to take advantage of what it expects will be a spike in volatility. It is expected to be benchmarked against a global multi-currency money market index, developed by JPMorgan, which invests approximately a third in the Americas, a third in Asia and a third in Europe. The fund is a Luxembourg-registered Sicav and will invest across both emerging and developed currencies. Minimum retail investment is $1,000.