Launches & Closures

Swiss bank launches a UCITS high-yield currencies fund


Swiss banking group SYZ & Co has launched high-yield currencies fund within the UCITS wrapper.

The Oyster ForExtra Yield EUR, a new sub-fund, seeks to take advantage of the high interest rates paid by certain currencies.

The sub-fund is part of the bank’s Luxembourg-domiciled Oyster SICAV.

The strategy was first tested for two years in a structured product issued by JP Morgan Structured Products and managed identically.

Akimou Ossé from SYZ & Co

Each month the fund’s assets are invested via forward foreign-exchange contracts in the five currencies having the best risk/return ratio. In October 2010 they were invested in the Brazilian real, Indian rupee, Polish zloty, South African rand and Turkish lira.