IMAC Lecture - Managing currency in portfolios
Tim Farrelly | farrelly’s Investment Strategy
About this Lecture
This lecture instructs IMAC candidates on the principles of managing currency in portfolios including:
- the key elements for the scope of a currency hedging policy;
- why philosophy is critical to developing a currency hedging policy;
- how policies around hedging may differ for different types of investors;
- theories of currency drivers;
- Puchasing Power Parity in practice;
- the principal drivers of currency-hedged returns and costs;
- the process for currency decision-making;
- the decision-making process for currency hedging equities;
- how currency hedging impacts vola...