Mandates & RFPs

Auriel kicks off FX hedging programme with big US mandate

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Auriel Capital Management, the London-based manager that specialises in quantitative macro strategies, has launched a dynamic currency hedging programme for institutional investors with the backing of a $1.1 billion mandate from a US corporate pension plan.

The strategy is designed to reduce the volatility of institutional investors’ foreign currency exposures while profiting from medium and long-term movements across foreign exchange markets.

Implemented as a customised overlay, the programme aims to outperform a passively hedged benchmark of currency exposures. It employs Auriel’s quantitative and qualitative risk controls in addition to a systematic portfolio construction process to reduce currency risk