02Currencies
Currency is a risk you take even when you ignore it.
Every foreign holding carries an implicit currency position. Left unmanaged, it can dominate the return of an otherwise well-built portfolio.
Our default is to hedge currency exposure back to a client's reporting currency, and to take an unhedged position only where it is deliberate, sized and documented.
Pair chart
Live · TradingViewCross rates
How we use it
Currency discipline in a mandate.
- Default treatmentHedged to reporting currency
- Unhedged positionsDeliberate and documented
- Hedging costDisclosed in reporting
- Return attributionCurrency shown separately