Currency Overlay Introduction:
The Currency Overlay Programmes offer a choice of specialist currency management solutions to help reduce risk or enhance returns either via alpha strategies or through dynamic and passive hedging. We work closely with the client to help assess their currency objectives.

Background to the Programme:
The Currency Overlay Programme commenced trading in 2005 as a managed account for an institutional client to provide active currency management to their foreign exchange exposure outside of their domiciled region. This overlay offered risk management and potential alpha through the currency strategies offered by The Cambridge Strategy.

Investment Approach:
The Currency Overlay Programme offers investors an opportunity to manage currency exposure to their international investments. Currency exposure can add significant unrewarded risk to an international investment portfolio, but conversely, managing currency risk can also be a source of further portfolio returns. The investment style and implementation framework are determined by the client’s asset portfolio and overlay objectives. These objectives can then be targeted through an allocation to one or more of the currency programmes outlined below:

Passive Hedging Programme: Straightforward negation of currency risk.

Dynamic / active hedging Programme: A hedge ratio is determined to reflect an investor’s desired currency exposure. We then use a systematic process to generate alpha within constraints and parameters that are determined by the client.

   
   
   
   

Awards

Winner: 2013 Best Sub $100m Hedge Fund, Hedge Funds Review’s European Single Manager Awards
The Cambridge Strategy Apollo Emerging Macro Programme
Winner: 2013 Best Global Macro Fund Manager, Hedgeweek Global Awards
The Cambridge Strategy Apollo Emerging Macro Programme
Winner: 2012 Best F/X Hedge Fund, Hedge Fund Review
The Cambridge Strategy Asian Markets Alpha Programme
> Winner: 2010 Best F/X Hedge Fund, Hedge Fund Review
The Cambridge Strategy Emerging Markets Alpha Programme
> Nominated: 2010 Currency Manager of the Year, European Pension Magazine Awards
> Nominated: 2010 Currency Manager of the Year, Global Pensions Awards
> Winner: 2009 Best F/X Hedge Fund, Hedge Fund Review
The Cambridge Strategy Asian Markets Alpha Programme
> Nominated: 2007 Currency Manager of the Year, Professional Pensions.
> Nominated: 2007 Currency Manager of the Year, Specialist & Alternative Investment Manager Awards.
The Cambridge Strategy