U.S. Banks Scurry To Launch Currency Funds Manufacturers Hanover Next To Enter Fray?

BANKS

Driven by their desire to increase trading volume and supplement management fees, U.S. commercial banks are scrambling to develop currency funds. Sources say that Manufacturers Hanover Trust (MHT), is set to launch a fund this fall, and that a number of other U.S. banks, including First Chicago and Chemical Bank, are working up plans to launch their own currency funds soon.

Trading in MHT’s fund, which is expected to be an offshore vehicle managed out of the bank’s London office, is scheduled to

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

Spotlight on: Neil Record, Record Currency Management

The founder and chair of Record Currency Management talks to Robert Mackenzie Smith about the growth of the firm over the past three decades, as well as the challenges posed by the financial crisis and his shortlisted entry for the Wolfson Economics Prize

Spotlight on: Collin Crownover, SSgA

State Street Global Advisors’ head of currency management talks to Joel Clark about investor appetite for G-10 and emerging market currencies, and how his global team has managed the volatility and political uncertainty that has characterised the foreign…

Most read articles loading...

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: