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Berkshire Pension Fund calls on Cambridge Strategy for currency overlay

Royal County of Berkshire Pension Fund, Maidenhead, England, hired The Cambridge Strategy to run a passive currency overlay for the £1.5 billion ($2.3 billion) fund.

Several years ago, The Cambridge Strategy ran an active currency overlay strategy for the pension fund, confirmed Nick Greenwood, pension fund manager, in an e-mail.

“Over the past decade, the non-domestic exposure of many pension funds has expanded, (and as) sensible as this may be for diversification purposes, it also has incrementally increased the currency risks involved,” said Derek Doupe, director of marketing and head of overlay solutions for The Cambridge Strategy, in a news release from the firm.