Friday November 6, 11:43 AM
Schroders adds Goldman manager to currency team
LONDON, Nov 6 (Reuters) - Schroders (LSE: SDR.L - news) said on Friday it had hired Hardeep Dogra from Goldman Sachs (NYSE: GS - news) to assist Clive Dennis on the recently-launched Global Managed Currency Fund.
Dogra, who joined Schroders in October, worked as an associate in the fixed income, currency and commodities group at Goldman Sachs International in London, focusing on interest rate and inflation analysis in global bond markets.
The fund is Schroders' first ever currency fund, a long-only, actively managed vehicle investing predominantly in cash instruments, and has some $43 million under management.
Since inception on June 2 it is up 0.13 percent, compared with a benchmark global currency index return of -0.13 percent.
It is currently overweighting commodity related currencies, Scandinavia, Asia and the euro.
Institutional investors such as pension funds have shown more interest in investing in currency as a standalone asset class due to perceived diversification benefits and a relatively strong showing during the financial crisis.
(Reporting by Claire Milhench; editing by Simon Jessop) Keywords: SCHRODERS/CURRENCY
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