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Avon PF Awards Currency Overlay Mandate

The Avon Pension Fund, Keynsham, England, has selected Record Currency Management to handle an active currency overlay.

The Avon Pension Fund, Keynsham, England, has selected Record CurrencyManagement to handle an active currency overlay, Pensions & Investments reports. The overlay will affect some of the fund’s overseas equity portfolio.

The overlay may also affect nearly £500 million that is denominated in U.S. dollars, euros and Japanese yen. The £2.6 billion pension fund was advised by consultant Jardine Thompson.

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