Investment Objectives

C~View Limited seeks to earn superior risk/adjusted rates of return through carefully monitored investments in currency and interest rate markets, with an emphasis on risk control.

The investment objective of the C-View Currency Managed Account Program, (CMAP), and the C-View Emerging, Developing and Minor Currency Program, (EMCP), is to maximise returns through the active trading of foreign exchange in the interbank spot, forward and options markets. Profits are sought from fluctuations in exchange rates, and from the differentials in interest rates reflected in the value of currencies. The approach is discretionary, combining fundamental analysis, some technical analysis and an understanding of market psychology. In addition, C-View accesses flow information from major dealing rooms to assist in determining market views.

C-View favours a diversified portfolio approach which enables maximum profits to be generated within a disciplined, low-risk environment. C-View will carefully analyse the relative values of a wide range of currencies and construct a portfolio of positions when risk/return ratios appear to be above average. The positions are based on the potential for currencies to appreciate or depreciate.

C-View supplements the portfolio strategy with shorter term, opportunistic trading of the major currencies. This is not only when currencies are fluctuating within a pre-determined trading range, but may also be when a particular short-term trend is identified.

The C-View Global Macro Interest Rate Program, (GMIRP), employs a discretionary approach derived from an understanding of the reaction functions of G7 Central Banks to macro-economic and global geo-political developments. Developed over 30 years and taking due consideration of their mandates, the ‘dove/hawk’ balance on their policy committees, and the political pressures to which they are subject. Using these assessments, a disciplined decision-making framework is employed to model and quantify likely changes to both the absolute levels of short and longer-term interest rates, and also to the shape of interest rate curves out to 30 years.

Across our programs downside risks are strictly limited, no unhedged short option positions are taken and strict risk and money management protocols are employed to preserve capital. Risk Management of entire portfolios and components is conducted primarily via nominal constraints. This is supplemented by VAR analysis of risk concentrations and correlations.

Authorised and regulated by the Financial Services Authority in the United Kingdom. A member of the National Futures Association in the USA.