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Regulators levy $4.4 billion in fines on banks for forex manipulation
trueCitibank, HSBC, J.P. Morgan Chase, Royal Bank of Scotland and UBS received a combined $3.4 billion in penalties from U.S., U.K. and Swiss regulators for manipulating foreign exchange benchmark rates to benefit certain traders from 2008 to 2013.
Milwaukee County Employees goes with Northern Trust for cash overlay
trueMilwaukee County Employees’ Retirement System, hired Northern Trust for cash overlay services to manage an exposure ranging between $30 million and $60 million.
Future Fund goes heavy on currency exposure
trueAustralia's Future Fund has boosted the foreign currency exposure of its A$104.5 billion (US$91.5 billion) portfolio to record levels to preserve flexibility and boost resilience to liquidity shocks.
Canadian pension funds return 1.1% in quarter on foreign currency gains
trueCanadian defined benefit plans in the RBC Investor & Treasury Services universe returned 1.1% in the third quarter and 8.6% for the first nine months of 2014.
FX professionals launch industry group, pick officers
trueForeign Exchange Professionals Association, a group representing participants in FX trading, debuted Thursday.
Adrian Lee & Partners hires former FX Concepts vice chairman
trueJonathan Clark joined Adrian Lee & Partners as head of new product/business development.
S&P Dow Jones: Pound-denominated equity funds blister past benchmarks
trueThe majority of U.K. and European actively managed equity funds denominated in pounds outperformed their benchmarks over 2013, while euro-denominated funds lagged.
France's FRR seeks manager for passive, currency risk portfolios
trueFonds de Reserve pour les Retraites, Paris, is looking for a passive manager to replicate indexes for current allocations to certain asset classes, and to run a €500 million ($677.1 million) currency risk portfolio.
ECB's interest rate cut could put pressure on pension fund liabilities
trueThe European Central Bank’s decision to further cut interest rates in an effort to stave off deflation have been met with mixed reactions by money managers.
Mesirow's currency management head to depart in July to start new firm
trueGary Klopfenstein, senior managing director of currency management at Mesirow Financial Holdings, is leaving the Chicago firm and will open his own boutique firm specializing in the management of currency and other alternative investments.
trueManulife Asset Management's global multi-sector Strategic Fixed Income Strategy generates strong, consistent returns by investing in global government and corporate bonds, foreign exchange, and other fixed income instruments. Portfolio Manager Dan Janis explains how he scours multiple sectors, ...
Growth opportunities tempered by uncertain regulatory environment
trueChina's inexorable march to an open economy from a closed, tightly controlled one has been a double-edged sword for local fund management companies, expanding the scope and scale of their business opportunities while adding a huge element of guesswork to strategic planning.
Illinois SURS picks cash overlay manager, commits to alternatives
trueIllinois State Universities Retirement System hired Parametric Clifton to manage a notional exposure of between $300 million and $400 million in a cash overlay, while committing $150 million total to two other managers for alternatives.
U.K. official talks tough on Scottish currency question
trueThe U.K. government's stance that a currency union would not be an option between an independent Scotland and the rest of the U.K. “is not bluff, it is not bluster, and it is certainly not bullying,” according to Danny Alexander, chief secretary to the Treasury.
More funds eyeing active currency hedging
trueInstitutional investor demand for dynamic currency hedging strategies is growing, and U.S. investors — perennial wallflowers at the global hedging ball — might finally be ready to join the party, money managers say.