Pension funds boost investment in FX
"We are seeing a pick-up of interest in pension funds, both on the local authority side and on the private side," said Papasavvas.
He said Investec Asset Management is seeing allocations ranging from 3% to 7% of overall investor assets into FX. Notably, investors want to steer away from single managers, typically carry traders, to a minimum of two managers using different styles following the poor performance of the carry strategy.
"It is very difficult to read what the environment will be over
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