Investec adds EM exposure to Managed Currency

Investec Asset Management has broadened the benchmark of its flagship Managed Currency fund to increase emerging market exposure.

The £122m fund will have core exposure to 24 of the most liquid emerging market currencies with immediate effect, the group says. Thanos Papasavvas, head of currency management, says investors are increasingly looking to benefit from improved fundamentals in the broader EM currency universe by diversifying outside the traditional G10 markets. "Although we have long included an active allocation to these markets in our currency products, we now feel it is time to formally include them in the underlying benchmark of our Managed Currency fund. "Since its inception in May 1980, this fu...