Crescent Wealth Adds Currency Hedging

1 min read
12/09/20 6:01 AM

Islamic superannuation fund Crescent Wealth has expanded its investment toolkit with the addition of Shariah-compliant currency hedging.

The fund signed a hedging contract with Malaysian bank CIMB in April to implement currency hedging, which gives the fund more flexibility in managing its risk.

“Since April, we were able to offer our members Shariah-compliant currency hedging, which is a first in Australia,” Jason Hazell, Chief Investment Officer of Crescent Wealth, says in an interview with [i3] Insights.

“It would have been perfect if we got the hedging in place when the Australian dollar was still at 55 cents, but we managed to get some low 60 numbers in our hedging contract, which is great.”

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