why are all portfolios denominated in us dollars and not sterling or euros?
The US Dollar is internationally recognised as the currency in which fund managers not only price their portfolios, but also conduct their investment transactions. In keeping with this philosophy we too have opted to price our funds in US Dollars. It should be recognised that holding a US Dollar-referenced fund does not necessarily equate to dollar exposure, neither does it imply that when investing in any one of our funds, one’s exposure is limited 100% to the US Dollar. The effective currency exposure is determined by our underlying fund managers” asset allocation (asset class and currency) and not by the reference currency. In addition, our underlying fund managers will also actively manage the currency exposure within portfolios.
