Rebecca Jones asks three experts whether advisers should give greater consideration to currencies when determining asset allocation for their clients.
Chris Mayo, investment director, Wellian Investment Solutions If you live abroad, you may need exposure to a certain currency share class: for example, in Europe, you might buy a euro share class. You need to have your portfolio aligned to where you reside. However, if you live in the UK, currency fluctuations move for and against you at different times. We diversify UK clients' portfolios using overseas assets and, even with hedges in place, there is a currency element there. However, I would not add a currency overlay in the form of funds or derivatives, as I would not want the ad...
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