The foreign exchange and rates division of JPMorgan’s investment bank will provide the currency hedging through its passive currency overlay program for about GBP1.3 billion of the fund’s non-UK assets.
Benjie Fraser, head of UK pensions and charities at JPMorgan’s Securities Company, said: We are delighted our investment bank will provide a currency hedging program to West Midlands Pension Fund, which demonstrates our ability to deliver a broad range of products to UK pensions and charities.
