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Quay Global Investors launches currency hedged fund

Real estate fund manager Quay Global Investors has launched a new currency hedged fund, the Quay Global Real Estate Fund (AUD Hedged) (‘the Hedged Fund’).

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Quay’s existing fund, the Quay Global Real Estate Fund, has been renamed the Quay Global Real Estate Fund (Unhedged) (‘the Unhedged Fund’) for clarity. Its investment team, objectives and processes remain unchanged.

Chris Bedingfield and Justin Blaess, Co-Principals and Portfolio Managers at Quay, said that increasing client demand led to the introduction of a hedged product.

“We know a number of our clients want a mix of hedged and unhedged in their portfolio, and some like to manage currency positioning themselves,” said Mr Bedingfield.

“While we continue to believe an unhedged strategy will result in lower volatility and is less risky during times of market disruption, we’re committed to making our strategy available to anyone who wants access to the attractive and growing investment themes of global real estate.”

Mr Blaess explained the Hedged Fund would be managed according to the same investment strategy as the Unhedged Fund, which has returned 13.92% p.a.* since its inception in 2014 – well in excess of the strategy’s medium term investment objective of inflation +5% p.a.

“We’ll continue to manage both funds in line with our proven strategy, aiming to deliver attractive total returns over the long term,” he said.

“The Hedged Fund, however, aims to mitigate the impact of currency by hedging foreign currency exposure.

The Unhedged Fund has been the winner of the Global Property Securities category in the Money Management Fund Manager of the Year Awards for the past four years in a row. In 2021, Quay also won Investment Manager of the Year (International Listed Property) at the Financial Standard Investment Leadership Awards and the Global Real Estate Investment Trust category at the Zenith Fund Awards.

Quay was founded in 2013 by Mr Bedingfield and Mr Blaess, who later formed a partnership with Bennelong Funds Management. It is majority-owned by its team, who also invest in the strategy – ensuring their goals are aligned with those of their investors.

* After fees and expenses. As at 31 December 2021

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