PT - JOURNAL ARTICLE AU - Michael Huttman AU - Louise Harris TI - Generating Alpha from Currency Programs AID - 10.3905/jai.2006.627850 DP - 2006 Mar 31 TA - The Journal of Alternative Investments PG - 48--54 VI - 8 IP - 4 4099 - https://pm-research.com/content/8/4/48.short 4100 - https://pm-research.com/content/8/4/48.full AB - Currency overlay programs provide a means to manage desired currency exposure without disrupting the way in which the underlying assets are managed. Separately direct investment into active manager currency programs may also provide return and risk returns similar to traditional fixed income investments. Based on their own experience, the article illustrates how the use of fundamental factors and market dynamics may produce superior risk adjusted returns for active currency investment.TOPICS: Currency, fixed income and structured finance, analysis of individual factors/risk premia