FischerFrancis Trees & Watts Inc. saw inflows of more than $2 billionin currency mandates since the start of 2016 due to currency volatility andcentral bank monetary policy intervention.
The company disclosed that the Fire & PolicePension Association of Colorado and the Illinois Teachers RetirementSystem have selected the company to assist in managing the unintended currencyrisk arising out of their global and international equity portfolios.
Fischer Francis was hired by the Fire & Police PensionAssociation to manage an active currency hedging mandate up to $750 million,while it was appointed by the Illinois Teachers Retirement System to manage a$500 million currency alpha mandate to generate alpha related to the currencyportion of their non-U.S. equities assets.
Fischer Francis has expanded its team due to the growth inassets and appointed Daniel Brehon as currency strategist and quantitativeforeign exchange researcher.
Brehon, who previously served as a director of foreignexchange strategy at Deutsche Bank, will develop and manage quantitativemodels, as well as contribute to overall currency strategy.