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Berenberg appointed by Aerion to manage £3.5bn active currency overlay mandate

  • Win underlines continued success in Berenberg’s international business growth strategy
  • Highlights Berenberg’s breadth and depth of expertise in currency overlay management

London/Hamburg. Berenberg, one of Europe’s leading privately owned banks,
based in Hamburg, has been chosen to manage an active currency overlay mandate for Aerion Fund Management, one of the UK’s largest in-house pension fund managers. Following a comprehensive due diligence, Aerion – which manages the National Grid UK pension fund – selected Berenberg for its riskorientated and rule-based process to manage the underlying currency exposure of the fund’s overseas investments.

Paul Sharman, CEO of Aerion, said: “As one of the UK’s largest and most innovative pension funds we are always seeking ways to enhance the investment returns that we generate for the members of the fund. By actively managing the currency exposure of our overseas assets we are able to both limit the risks and maximise the potential of holding investments not priced in Sterling.”

Tindaro Siragusano, Head of Asset Management at Berenberg said: “We are delighted to have worked with Aerion to deliver a hedging solution tailored to their exact requirements across a wide range of currencies. Against a 50% hedged benchmark, we seek to open the hedge when the overseas currency is appreciating against Sterling and increase the hedge when currencies depreciate.

The programme covers both developed and emerging market currencies, and has the potential to significantly increase the Sterling returns generated by the fund’s overseas holdings.”

Director Corporate Communication

Karsten Wehmeier
Phone +49 40 350 60-481
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