CitiFX launches new platform for investors seeking currency alpha.
The returns of these indices are driven by the performance of currency programmes run by the most prominent hedge funds, asset managers and advisors in the industry. From inception, the platform will represent about 35 currency programmes estimated to account for more than 50 per cent of the assets under management in currency funds.
CitiFX Access is partnering with BarclayHedge, Parker Global Strategies, Absolute Return Strategies and Quaesta Capital -research companies, investment advisers and fund of funds - to create a range of solutions for investors seeking to capture FX alpha.
"CitiFX Access will make the BarclayHedge BTOP FX Index and the Parker Global Currency Manager Index (PGS CMI Index) investable for the first time, allowing clients to capture the performance of these well-known industry references. Absolute Return Strategies will provide diversified currency alpha by actively allocating to different trading styles, while Quaesta Capital will offer a thematic approach via its Global Growth, Momentum and Market Neutral multi-manager indices," the bank said in a press release.
Other products available include the Alpha Blend family of indices, created by John Dean, CEO of Absolute Return Strategies. It consists of 8 to10 managers with long-term market experience who achieve risk-adjusted returns with an emphasis on low downside risk by allocating to uncorrelated trading styles. Pablo Frei, head of FX multi-manager programmes at Quaesta Capital, has taken a different approach by developing style-centric indices that will answer specific investor needs. The Quaesta Capital Style Indices are based on an in-depth due diligence process and a vigorous, daily strategy monitoring.
Citi said it nwill make these indices available to institutional clients through index swaps and funded structures. "These will address the portable alpha and alternative investment needs of real money managers, sovereign wealth funds, high net worth individuals and pension fund portfolios," the bank said.
CitiFX Access indices will be published on Bloomberg (page CEXT ) and on CitiVelocity.
2011 CPI Financial. All rights reserved.
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|Date:||Sep 22, 2011|
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