{"product_id":"9780470850275","title":"Currency Overlay","description":"\u003ch3\u003eThe Wiley Finance Series\u003c\/h3\u003e\u003ch1\u003eCurrency Overlay\u003c\/h1\u003e\u003ch3\u003eNeil Record\u003c\/h3\u003e\u003cdiv\u003e\u003cb\u003eBusiness \u0026amp; Economics \/ Finance \/ General\u003c\/b\u003e\u003c\/div\u003e\u003cbr\u003e\u003cdiv\u003eCurrency overlay is the management of the currency exposure inherent in cross-border institutional investments. Exposure to foreign currencies increases the volatility of their returns, without increasing the returns themselves and academics and consultants recommended that the currency exposure should be stripped out of international portfolios and eliminated as far as practicable.  \u003cp\u003eThis book provides a comprehensive description of currency overlay, its history and possible future developments and growth, the reason for its emergence, the debates and controversies, the different styles of currency management, and the industry's performance track record.\u003cbr\u003e \u003c\/p\u003e \u003cp\u003eThis is a subject of international appeal and is an area of particular growth potential for institutional investors.  Coverage includes:\u003c\/p\u003e \u003cul\u003e \u003cli\u003e The theoretical case for eliminating currency risk in international portfolios\u003c\/li\u003e \u003cli\u003eThe interplay between asset returns and currency returns, and the effect of this on hedging decisions\u003c\/li\u003e \u003cli\u003eBenchmarks - their construction and strategic role\u003c\/li\u003e \u003cli\u003eLeast-cost passive overlay\u003c\/li\u003e \u003cli\u003eThe structure of the currency market, and its 'inefficiencies'\u003c\/li\u003e \u003cli\u003eActive overlay styles\u003c\/li\u003e \u003cli\u003eActive overlay both restricted and unrestricted (currency alpha)\u003c\/li\u003e \u003cli\u003eUses diagrams, charts, tables and explanatory boxes to explain concepts\u003c\/li\u003e \u003c\/ul\u003e\n\u003c\/div\u003e\u003cdiv\u003e  \u003cb\u003eNEIL RECORD\u003c\/b\u003e has spent the majority of his working life as a currency overlay manager. He was educated at Oxford and London Universities, and early in his career worked in the Bank of England as an Economist. In 1983, he founded Record Currency (formerly Treasury) Management, the firm he has Chaired and guided for twenty years.  \u003cp\u003eThe author has been in the forefront of the development of currency overlay since its inception, and is acknowledged as one of the leading figures in the overlay industry. He has authored numerous articles on currency and related topics, and is an external MBA lecturer at the Judge Institute at Cambridge.\u003cbr\u003e \u003c\/p\u003e\n\u003c\/div\u003e\u003cbr\u003e\u003ctable\u003e\n\u003ctr\u003e\n\u003ctd\u003ePublication Date: \u003c\/td\u003e\n\u003ctd\u003e14 November 2003\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePublisher: \u003c\/td\u003e\n\u003ctd\u003eWiley\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eImprint: \u003c\/td\u003e\n\u003ctd\u003eWiley\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eISBN-13: \u003c\/td\u003e\n\u003ctd\u003e9780470850275\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFormat: \u003c\/td\u003e\n\u003ctd\u003eHardback\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePage Count: \u003c\/td\u003e\n\u003ctd\u003e320\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eWeight (oz): \u003c\/td\u003e\n\u003ctd\u003e24.0\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/table\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":44311312072844,"sku":"9780470850275","price":156.6,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0710\/9545\/1788\/files\/9780470850275.jpg?v=1780153068","url":"https:\/\/lateknightbooks.com\/products\/9780470850275","provider":"Late Knight Books and Services, LLC","version":"1.0","type":"link"}