SWIP Launches New Currency Alpha Fund

Scottish Widows Investment Partnership (SWIP) has launched its new Currency Alpha fund. Aimed at the discretionary market, the fund will appeal to those investors looking for consistent returns and diversification from bonds and equities.

The Currency Alpha fund will be managed by Roddy Macpherson, Investment Director, Currencies. The fund will take advantage of opportunities in the currency markets and will be based on a quantitative model, which SWIP has successfully run internally for the past three years, delivering a strong track record.

Roddy Macpherson

Roddy Macpherson, Investment Director, Currencies, said: "In today's markets you need a more flexible investment approach to seek out the most attractive total returns by identifying opportunities across the currency markets. There is definitely appetite for such a fund in the discretionary market, where investors are looking for currency exposure with solid returns. The new Currency Alpha fund brings another innovative fund to SWIP's product range and we are confident we can deliver on our ambitious targets."

The fund will maintain exposure to a diversified portfolio of developed market currencies, including sterling cash assets. It will be denominated in sterling but with the provision to add euro share classes. The Currency Alpha Fund will be a limited issue fund with capacity restrained at £400m and will operate with a performance fee.