SYZ & CO launches high-yield hedge fund

November 8th, 2010
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Contributed by: Emerging Manager Focus
Swiss banking group SYZ & CO has launched a high-yield currencies hedge fund, the bank announced. The UCITS III-compliant OYSTER ForExtra Yield EUR, a new sub-fund of its OYSTER Funds SICAV, seeks to take advantage of the high interest rates paid by certain currencies.

According to SYZ & CO, each month the fund will invest in forward foreign-exchange contracts in the five currencies it believes has the best risk/return ratio. In October the fund selected the Brazilian real, the Indian rupee, the Polish zloty, the South African rand and the Turkish lira.

The fund is currently reserved for institutional investors, but the bank does plan to register the fund in a variety of European jurisdictions, including Switzerland, to make it available to retail investors.

Chief economist of Banque SYZ & CO, and Akimou Ossé, head of risk management for the Group, selected the strategy developed for OYSTER ForExtra Yield. Prior to being implemented in this new sub-fund of the Luxembourg OYSTER Sicav, the strategy was first successfully tested for two years in a structured product issued by JP Morgan Structured Products BV, and managed identically.
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