Subscribers

Laughing all the way to the bank by looking beyond Brexit

New York

FOR one of the year's most successful currency managers, the UK's vote last week to leave the European Union was one more vindication of its investment strategy.

"We made money on Friday, sure, we were up over 3 per cent," said Serge Houles, head of investment strategy at IPM Informed Portfolio Management AB, a Stockholm-based fund that manages US$5.5 billion.

IPM relies on computer models to capture divergences between fundamentals and market prices in its US$1.7 billion of currency strategies, Mr Houles said.

The approach is paying off, with a return of 18 per cent in 2016, versus 3.5 per cent last year, according to data compiled by Bloomberg.

The Parker Global Currency Manager Index,...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes