Alternative Investments, Conference / Seminar, Free for Members, Global Investing Group, Virtual Events & Programming

Currency Investing: Sources of Risk and Return

May 27, 2021 | 12:00 PM - 1:30 PM

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The Mesopotamian shekel, the first known form of currency, emerged nearly 5,000 years ago. Today, the foreign exchange market is the largest financial market in the world, with a daily volume of $6.6 trillion, according to the 2019 Triennial Central Bank Survey of FX and OTC derivatives markets.

While many investors are familiar with the risks and rewards associated with traditional markets, such as equities and bonds, investors may be less familiar with those relating to currency investing. Our panel discussion aims to demystify the potential sources of alpha and beta within the currency market, as well as present passive and active approaches to managing foreign currency risk arising from international investment exposures.



Philip Clements, CFA, CAIA, Associate Director, Record Currency Management Inc.



Kartik Ghia, Systematic Strategist, Bloomberg


Galen Haws, CFA, CAIA, Director of Portfolio Management (OCIO), Verus Investments

Kristjan Kasikov, Global Head of CitiFX Quantitative Investor Solutions, Citi

Leah Traub,PhD,  Partner, Portfolio Manager, Lord Abbett

Mee Warren, CFA, CAIA, President, Bodhi Research Group

1:10 PM | Q&A


Philip Clements, CFA, CAIA, Associate Director, Record Currency Management Inc.

Additional Details

Areas of Focus

  • Describe different sources of currency return, including currency risk premia (such as carry and value) and currency alpha
  • Identify some of the key risk associated with currency investing
  • Explain some potential macro and currency themes that 2021 may present