FTSE Group (“FTSE”), the award winning global index provider and Record plc (“Record”), the specialist currency investment manager, today announce the signing of a co-operation agreement for the creation of a new range of innovative currency Forward Rate Bias (FRB) indices. The indices will aim to provide investors with a passively managed and transparent benchmark for currency FRB returns, used for portfolio construction, index-tracking and benchmarking.
Mike Bruno, Head of Fixed Income at FTSE Group, said of the initiative, “This new co-operation combines FTSE’s global brand equity, track record in strategic partnerships and renowned indexing expertise with Record’s comprehensive knowledge of currency investment management. In the current market, investors are increasingly seeking transparency and diversified portfolios and investors can continue to depend on FTSE for leading and innovative investment tools.”Neil Record, Chairman and CEO of Record, said “We are delighted to be working with FTSE on this important development in currency investment management. Our experience in managing enhanced and risk-controlled FRB investment strategies, allied with our extensive research and analysis, has convinced us that the currency forward rate bias is a fundamental and sustainable return stream. We believe this is the beginning of a transition from an ‘alpha’ to ‘beta’. We look forward to working further with FTSE to develop these currency indices, and with investors around the world to develop new currency investment management products.”
FTSE and Record are currently working together on developing the currency indices with the launch being announced soon. More information about FTSE and its global offering can be found at www.ftse.com and about Record at hrefwww.recordcm.co.uk