Zurich-based Eniso Partners has unveiled a new FX strategy, Citywire Switzerland can reveal.
According to partner Gerd Ramsperger and portfolio manager Roland Kramer, the Eniso Systematic FX Fund is the first of its kind to be regulated by Finma.
The firm took note that investors were looking for solutions with low correlation to traditional asset classes such as equity and bonds.
‘Raising funds is always the starting point for a boutique like us. There was demand from family offices, that is why we took the decision to launch this fund,’ Ramsperger said.
Kramer, who is the lead fund manager on the new strategy, joined the firm in January.
However, he has many years of experience in the field, having started out in foreign exchange in 1984. He also worked on FX mandates at J.Safra Sarasin, before heading out on his own in 2015.
The new fund invests in liquid currency pairs, including Japanese yen and the US dollar, the Swiss franc and the euro.
‘We are looking for daily liquidity, and Australian or Canadian dollars, for example, are not very liquid during certain times. In the meantime other currencies are traded with tight spreads, which is also important for the FX fund,’ Kramer said.
One distinctive feature of the new strategy is its focus on the systematic and rule-based approach, which is also a hallmark of some of the firm's other funds.
Kramer says the fund uses a pattern recognition approach, noting that it is quite easy to show clients how those patterns interact with each other.
‘One example of patterns we use is a so-called inside day in a chart, which indicates the direction in which the market is going. We use this kind of information either as a stop-loss or to take profit.’
The annual management fee of the FX fund is 1%. Performance fee is 20% on the LIBOR plus 200 points.