Currency returns reach new high

Managers surpassed their individual benchmarks by a median of 0.78% in Q2 this year, marking the strongest quarter for the past 10 quarters and the third consecutive quarter of average outperformance.

For the year ending June 30, currency overlay managers surpassed their individual benchmarks by 1.25% a year. Over five and 10 years, benchmarks were surpassed by 0.22% and 0.35% a year, respectively.

The survey noted that investors are increasingly looking to reduce currency risk on the back of