John Hancock launches New Currency Strategies Fund
The decision to develop and launch the new fund grew from lessons learned in the aftermath of the 2008 market turmoil, said Keith Hartstein, president of John Hancock Funds.
According to John Hancock, the JCUAX seeks to generate positive returns over all market cycles by making diversified investments in global currencies in order to take advantage of market anomalies. The Fund primarily uses short-term forward currency contracts on developed market currencies to achieve its goals.
The sub-adviser to the fund, First Quadrant of Pasadena, California, manages approximately $6.3 billion in currency strategies, and has been managing currency assets since 1992. First Quadrant partners Ken Ferguson and Dori Levanoni are primarily responsible for the day-to-day management of the new Fund. Mr Ferguson has been a quantitative manager at First Quadrant since 1994, Mr Levanoni since 1998.
Mr Hartstein said: “Our recent product development initiatives have placed a premium on finding non-correlated investment strategies that can complement existing portfolios while offering a layer of diversification.
“Once we identify an investment strategy that we believe will fill a need in the market, our unique sub-advisory business model affords us the luxury of seeking out best-in-class institutional asset managers to manage that strategy. We are very pleased to welcome First Quadrant, one of the premier institutional managers of currency assets, to our roster of 12 world-class sub-advisers.”
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