The £2.6bn (€3.8bn) Tyne & Wear pension fund is lookiing for a currency manager to extract returns from its £1bn overseas equity portfolio. The manager would trade the currencies to which stocks are exposed to reduce risk and boost returns.

Tyne & Wear is advised by consultant Hymans Robertson, which has several local authority clients. The conversion of Hymans to currency management will provide more opportunities for specialists.

Mike Foster

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