Strategies & Capabilities

Currency Management The Exposure You Can’t Afford to Overlook

We understand the power of effective currency management to reduce risk and drive returns. Our rigorous, research-driven approach takes no shortcuts in unlocking the value of currency management.

Deeply Committed to Currency Management

At a time when many asset managers are pulling back from the asset class, we continue to expand our industry-leading capabilities in currency management.

$145B

AUM across 11 base currencies

340+

Client accounts globally

30+ Years

Since launching one of the industry’s first dedicated currency management teams

As of December 30, 2020

Why Investors Choose Us

With one of the industry’s deepest and most experienced currency management teams, we are committed to providing leadership at the crossroads of global asset flows.

Broad Capabilities

Investment solutions across objectives (risk mitigation vs. return-seeking) and styles (passive vs. active)
Deep expertise across regions, including emerging markets

Objective Thinking

Breadth provides objectivity that specialists cannot offer
Focus on determining the optimal approach for each currency and phase of the economic cycle

Innovative Solutions

Access to real-time market data fuels research into new solutions
Work closely with clients to develop strategies, approaches and tools that are tailored to their objectives and regulatory requirements
Strategies that provide efficient exposure to emerging markets

Scale and Stability

Global Systematically Important Financial Institution (G-SIFI)
Third-largest asset manager in terms of AUM
Robust infrastructure and risk controlsEarly signatory of the FX Global Code

Efficient, Reliable Execution

268,000+ FX trades totaling $1.4T in market value in 2020
15 banks in our panel of counterparties
24-hour trading capabilities

As of December 30, 2020

Our Currency Strategies

Across developed and emerging markets, we have the solutions clients need to manage currency risk and harness it as a tool for shaping portfolios to support their strategic objectives.

Innovation Driven by Research

Examples of how we have used our access to real-time information across markets globally to develop thoughtful, innovative solutions include:

Created an emerging markets (EM) multi-factor strategy to provide investors a more efficient way to capture the EM risk premium and participate in the secular growth story.
Designed tailored hedging programs to avoid the unnecessary costs and cash flow issues associated with simply following a benchmark.
Developed country-specific reporting templates for new FX regulations.
Created tri-partite collateral management process to satisfy client requirements without affecting asset allocation.
Develop broad portfolio solutions for clients that integrate currency management into our investment capabilities across asset classes.

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Our Team

Global Currency Management Team

We have been providing currency management solutions since 1989, and today we have 25 currency professionals across four continents.

James Binny

Global Head Currency & Head of Investments Ireland

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Aaron R Hurd, FRM

Senior Portfolio Manager

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Matthew Nest, CFA

Global Head of Macro Strategies

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Matthew J Steinaway, CFA

CIO, Global Fixed Income, Currency & Cash

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