Barclays Capital, the investment banking division of Barclays Plc, one of the world's largest multinational financial services groups, has launched the Gulf's only bank-managed corporate currency risk and hedging product, a press release reported.
The division’s director, Andrew Winterton, said in the statement that the product, Currency Overlay, was launched in the UK last year and already had 350 million pounds under management.
He said the currency was aimed at “providing Gulf-based corporations with dedicated currency risk management."
According to Winterton, the product covers both small treasuries and major portfolios and targets shielding clients from volatile currency fluctuations.
"In particular, it provides importers with a hedging platform to weather currency downturns, leaving them to focus on their core businesses,” he added.
Barclays Capital's Currency Overlay team claims a 4.5 percent per annum improvement on exposures presently under management, said the report – Albawaba.com
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