FX Hedging Hurts US Fund Managers
FUND MANAGEMENT
EDINBURGH--The WM Company, an independent appraisal firm measuring fund management performance, has released a report showing that US fund managers have under-performed because of forward sterling and Japanese yen selling for hedging purposes.
Anne-Marie French, performance consultant at The WM Company says the international equity portfolios in its universe of US pension funds underperformed the Morgan Stanley Capital International EAFE (Europe, Australasia, and Far East) Index in the third
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