The Fund invests in a diverse range of currencies via forward contracts, futures and options. In seeking to maximise return while minimising risk, the portfolio managers use discretionary trading strategies of currencies reflecting their qualitative and quantitative views. The team manages the Fund with rigorous risk controls. Stop-losses are established on all discretionary trades at the outset. The option-selling component has automatic stop-loss levels, while the forward rate bias component is subject to a maximum monthly drawdown.
3 month GBP LIBID