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Daniel Stewart partners with Swiss firm to launch forex fund
Markets
by Danielle Levy on Nov 19, 2012 at 11:43
Broker and wealth manager Daniel Stewart & Company is partnering with Swiss firm Mercury Forex to launch a foreign exchange fund.
Daniel Stewart said it was seeking to capitalise on economic volatility and what it views as the optimum conditions it creates for forex funds with the launch.
The fund, managed by John Birkins, will draw on the firm's experience trading the major G7 currencies and their crosses short-term and intra-day and has traditionally taken a contrarian approach.
The Daniel Stewart Mercury Forex Currency fund will be open to institutional investors and will launch at the beginning of next year. The fund will be seeded with internal assets, with the firm looking to raise an additional £10 million at launch externally.
Peter Shea, CEO of Daniel Stewart, said: 'We strongly believe that ongoing volatility in currency markets provides excellent opportunities for investors to boost returns compared to the relative weakness of equities and bonds.'
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