Henderson launches currency newcits fund for Arends

Henderson has launched a Ucits III global currency fund for Bob Arends, the head of currency.

The Henderson Horizon Global Currency fund is a Luxembourg-domiciled Sicav run as a quantitative strategy and giving access to currency within developed and emerging managers. The more liquid currencies of G10 countries make up 70% of the portfolio, and will be paired against each other. Emerging market currencies can make up a maximum 30% of the fund, and there are 19 in the managers' investable universe. These currencies are then paired against the dollar to give a better risk adjusted return, Arends says. Arends and his team of five joined Henderson last year from Fortis and launch...