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Illinois Teachers Retirement System appoints Adrian Lee & Partners

Tuesday, May 17, 2016
Opalesque Industry Update - Adrian Lee & Partners, the leading active currency manager for institutional investors, has been appointed by Illinois Teachers Retirement System (TRS Illinois) to manage $500 million of their foreign currency exposure. The mandate’s objective is to protect TRS Illinois’s foreign investments against foreign currency depreciation.

Over the last year, AL&P’s actively managed assets have almost doubled from winning new mandates and increasing assets from existing clients. With the TRS Illinois appointment, AL&P’s total assets under management have risen to $9 billion.

Also, AL&P has recently strengthened its team with the appointments of Naveen Joshi as a Senior Portfolio Manager; Daphne Pezati as a Quantitative Analyst, and Cliadhna Law as a Relationship and Product Development Manager.

Naveen will be responsible for managing currency strategies for clients. He was previously a portfolio manager at J.P. Morgan Asset Management and Pareto Investment Management.

Daphne will support the research into enhancing the firm’s quantitative models for currency selection based on fundamental and technical factors. She joined from GAM (UK) where she was a Quantitative Analyst.

Cliadhna will be responsible for new business development globally, based in London. She joined AL&P from J.P. Morgan Private Wealth Management UK where she was a Vice President responsible for driving new business.

Commenting on the mandate win and the new appointments, Adrian Lee, President and CIO of AL&P said:

“The TRS Illinois mandate is a significant win for our business and attests to our strong record in currency management over many years and our exclusive commitment to this speciality as a 100% employee owned firm.”

“In the past year there have been two key trends that have played a role in us growing our client base. First, there has been a significant increase in demand for currency strategies by institutional investors, especially in the US, who are seeking to protect their foreign currency investments from a rising US Dollar. There is also the increasing awareness that active currency management can add additional returns to an international portfolio. This has resulted in an influx of formal RFIs or RFPs from US institutional investors over the past year or so.”

“Second, there has been the consolidation on the provider’s side of active currency management for institutional investors, resulting in fewer active currency managers with the capability to provide the level of service large institutional investors require.”

“We are delighted that Cliadhna, Naveen and Daphne have joined us at this exciting time for the firm. As our client base grows, their extensive experience in portfolio management, research and business development will ensure we continue to provide excellent services to our existing clients while capitalising on increasing demand for currency strategies from investors.”

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