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Record, Neil

Currency Overlay

Record, Neil - Currency Overlay, ebook

126,50€

Ebook, PDF with Adobe DRM
ISBN: 9780470871638
DRM Restrictions

Printing95 pages with an additional page accrued every 8 hours, capped at 95 pages
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Currency overlay is the management of the currency exposure inherent in cross-border institutional investments. Exposure to foreign currencies increases the volatility of their returns, without increasing the returns themselves and academics and consultants recommended that the currency exposure should be stripped out of international portfolios and eliminated as far as practicable.

This book provides a comprehensive description of currency overlay, its history and possible future developments and growth, the reason for its emergence, the debates and controversies, the different styles of currency management, and the industry's performance track record.

This is a subject of international appeal and is an area of particular growth potential for institutional investors.  Coverage includes:

  •  The theoretical case for eliminating currency risk in international portfolios
  • The interplay between asset returns and currency returns, and the effect of this on hedging decisions
  • Benchmarks - their construction and strategic role
  • Least-cost passive overlay
  • The structure of the currency market, and its 'inefficiencies'
  • Active overlay styles
  • Active overlay both restricted and unrestricted (currency alpha)
  • Uses diagrams, charts, tables and explanatory boxes to explain concepts

Keywords: BUSINESS & ECONOMICS / Finance BUS027000

Author(s)
Publisher
John Wiley and Sons, Inc.
Publication year
2004
Language
en
Edition
1
Page amount
316 pages
Category
Economy
Format
Ebook
eISBN (PDF)
9780470871638
Printed ISBN
9780470850275

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