The trend towards launching of funds of foreign exchange funds has continued recently, with new products coming to market from the likes of multi-manager Russell Investment Group.
Russell Investment Group has launched a multi-manager FX vehicle, domiciled in Dublin, called the Active Currency Fund. It will be traded daily and be UCITS III-compliant, with share classes for dollar, euro, sterling, and yen investors.
It aims to beat Libor, primarily using currency forwards. The fund will combine