Currency overlay programs allow investors with international exposures to separate the two risk components of investing internationally: the performance of the underlying investment and the risk associated with changes in the value of the currency in which the foreign investment is denominated.

Our firm was the first to obtain approval by the Luxembourg and Irish regulators to incorporate a dynamic currency hedging program within the constraints of E.U. mutual fund regulations. This innovative structure allowed investors for the first time to allocate to international sectors and to investment managers located outside of the European Union, with the knowledge that the investment’s underlying currency exposure was professionally managed on an ongoing basis.

We develop passive as well as dynamic currency overlay programs for the currency exposures of our clients. These programs are managed by one of the leading currency overlay specialists, with a track record in excess of 20 years and over $2 billion in assets under management.