Pareto - White Papers

Australasia White Papers

Pareto's thought leadership publications are authored by senior members of the firm. Below is a list of our current publications.

April 2009 - New Approaches to Currency Management

International investors hold two types of currency risk: currency translation risk and currency alpha risk. Confusion between these different types of risk can result in significant currency losses. In this paper, Gavin Francis, Pareto's Head of Client Portfolio Management discusses the importance of distinguishing between the two types of currency risks and highlights the necessity of an active currency risk management programme.

February 2009 - Currency Boost for UK Pension Funds

Currency moves do have an impact on performance at the total plan level. In this paper, Gavin Francis, Pareto's Head of Client Portfolio Management investigates the impact of currency movement on UK Pension Pooled funds over 2008.

January 2009 - Emerging Markets Currency: Better than Bonds

Attractive emerging market bond returns can be credited largely to currency exposure. Investors in emerging markets should separate the currency from the debt to achieve a more desirable risk-adjusted return.

Pareto's Emerging Currency team discusses the opportunities in emerging currencies in this paper.

Copyright Pareto Investment Management Ltd 2009 - Pareto Investment Management Limited (PIML), Company registration 03169281, 160 Queen Victoria street, London, EC4V 4LA.

Pareto Investment Management Limited is a wholly owned subsidiary of The Bank of New York Mellon Corporation; is authorized and regulated by the Financial Services Authority (FSA) in the United Kingdom and is registered with the Securities and Exchange Commission (SEC) in the United States; the Ontario Securities Commission (OSC), Alberta Securities Commission (ASC), British Columbia Securities Commission (BCSC), Manitoba Securities Commission (MSC), and Saskatchewan Financial Services Commission (SFSC) in Canada; the Ministry of Finance (MoF) in Japan and the Irish Financial Services Regulatory Authority (IFSRA) in Ireland. Pareto Australia Pty is regulated by the Australian Securities & Investments Commission (ASIC). Pareto New York LLC is registered with the Securities and Exchange Commission (SEC).