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Millennium

Last Updated : 29 Jan 2010
 


Website: www.millenniumglobal.com
AGEST and Millennium

AGEST has employed Millennium to hedge some of the foreign currency exposure of the fund's international shares portfolio.
 

Objective and Strategy

Millennium's objective is to outperform the benchmark. The benchmark is the currency contribution to return of a passively managed 33% currency hedge applied to the MSCI World (ex Australian) Index* back to Australian dollars.

Millennium employs a Currency Overlay Portfolio to hedge the foreign currency exposures of the fund's international shares portfolio.  The Overlay Portfolio is managed actively.

*The MSCI World (ex-Australian) Index measures the performance of major sharemarkets around the world (other than Australia), with each sharemarket's performance contributing to the index in proportion to its relative size by market capitalization. Dividends paid by companies are included in this calculation of performance.



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