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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