Investment Strategies

Bisset provides currency risk management and return seeking currency strategies.  The currency programs are driven by systematic and disciplined models that exploit the persistence of momentum and price trends that exist in currencies.  With over 35 years of currency research and currency management experience Bisset has successfully weathered several currency cycles and currency environments.

Cycle-Based Currency Program

Bisset’s Cycle-Based Currency Program is designed to harvest returns in line with the unfolding of the 15-year currency cycle.  A new cycle started in 2017.  Historically, currency trends have been particularly strong in the early years after new 15-year currency cycle has started. The program combines our research, currency models, and systematic risk management. The program invests to generate returns that are independent from other asset classes and that can be negatively correlated when equity and fixed income markets decline.   

Active Currency Overlay Program

Bisset’s Active Currency Overlay Program is designed to minimize currency losses in underlying investment portfolios when currencies decline in value while allowing participation in gains when currencies rise in value.  Bisset’s 25-year performance records begin in 1992. The program can be applied to any base currency.  With foreign investments a large and growing portion of institutional portfolios, the imbedded currency risk has become substantial and must be prudently managed to avoid losses than can be large.

As the 15-year cycle in the dollar that started in 2017 continues to unfold, investors outside the U.S. are at risk of suffering large currency losses as the dollar falls. In the past three cycles, the dollar’s decline averaged 50% and its decline averaged 8 years.  

Research & Advisory

Bisset’s Research & Advisory provide investors with a consistent analysis of cycles and trends in currencies, interest rates, equity markets, and some commodities.  The research assists them with clear advice on when to buy, hold and sell.  It also focuses on alerting investors to emerging trends. The research is published monthly in Bisset’s Review of Emerging Trends.  The report has been published continuously since 1984.  

Knowing about the currency cycle and where we are in the cycle can help you generate additional returns and avoid large losses. To receive a copy, see

Passive Currency Hedging

Bisset’s Passive Hedging Program is designed to continuously hedge out the currency exposure in underlying investment portfolios.  The program meets the needs of an investor who prefers to have a permanent hedge in place on all or on a portion of the currency-exposed assets.

 
 

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