On dealer and currency choices, big US funds differ

- By Lukas Becker
- @LukasBeckerRisk
- 22 Oct 2020

Vanguard and Pimco made up more than a third of all foreign exchange forwards activity among US mutual funds in the first quarter of this year, while Vanguard alone was responsible for 25% in the second quarter, according to FX Markets’ analysis of more than 32,000 regulatory filings.

Vanguard’s filings show the fund manager had $181 billion of forwards trades on its books in the first quarter, while Pimco had $185 billion. Combined, they accounted for $366 billion of forwards trades out of a

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