Aviva chooses collared options to hedge balance sheet
When one thinks of foreign exchange at Aviva, the initial thought might be of portfolio managers carrying out high-volume deals on Aviva's investment desks. But like any corporation, Aviva also has its own FX needs, and its treasury team is tasked with reducing the currency risk raised by the company's global presence.
According to the UK firm's 2012 annual report, a large portion of its operating earnings and net assets are denominated in currencies other than sterling – a result of its
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