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Active Currency

Active Currency

Approach


Our dedicated currency specialists employ fundamental research to identify opportunities across both developed market and emerging market currencies.

Fundamental and Active Approach
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We apply a fundamental approach to currency management across the G10 currencies, the most widely traded currencies, as well as a range of emerging market currencies where we seek to take advantage of market themes, dislocations and perceived mispricings. We believe currency markets are inefficient and that some of these inefficiencies may be exploited using fundamental economic analysis and market knowledge.

Proprietary Research and Tools
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The team primarily relies on in-house economic analysis. This analysis combines global macroeconomic developments and country-specific idiosyncratic factors. Our research process includes both theoretical and field research, such as country visits and meetings with policy makers. We layer in technical considerations, such as market positioning, to arrive at investment ideas from a holistic perspective.

Benefits


Specialized and comprehensive approach

Our specialized Fundamental Currency team pursues a team-based approach to decision-making under unified leadership, based on a common set of investment criteria and goals. This approach has ensured the consistency and continuity of our investment process over time and provides a performance track record for which the team - rather than any particular individual - is responsible. The Fundamental Currency team also has immediate access to wider GSAM resources and expertise, such as our Rates, Emerging Market Debt and Commodities teams, which can provide essential inputs into our fundamental currency views.

 


Diversified returns, global exposure

Currency markets provide a source of potential returns that may be uncorrelated to other asset classes. The global nature of the currency market allows investors to tap into trends from around the world, not restricted by national or regional themes.

Access to liquidity

Currency is a large and deeply liquid asset class, and may provide investors with added liquidity.

Strategies