Argonaut launches sterling-hedged share class for European Alpha fund

Comes amid sterling volatility

Argonaut Capital has launched a sterling-hedged share class for its £359m European Alpha fund.

The European equity asset manager said the launch provides an option for investors wishing to protect against or potentially benefit from fluctuations in the euro/sterling exchange rate. Sterling has recently hit by uncertainty surrounding the upcoming EU referendum, which will be held on 23 June this year. For example, London Mayor Boris Johnson's announcement he is backing the ‘out' campaign led the pound to fall 1.7% versus the dollar to $1.41 in February, its worst daily performance since May 2010. It subsequently continued to fall to $1.39, its weakest level since 2009. It has...