(Oct 23): A client of mine was recently interested in a mutual fund that invests in Asian equities. It had a great investment track record and a solid manager; his main reservation was that it was denominated in British pounds (GBP). Given the continuing fallout from Brexit, he was afraid that GBP would depreciate in value against the Singapore dollar and therefore he could lose money in SGD terms even if the fund performed well. Is he right to be concerned?

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