Canada's pension funds ignore FX risk
A study by Connecticut-based consulting company Greenwich Associates of 257 pension funds found 35% did not hedge their foreign currency exposure. This is despite foreign investments now making up 33% of corporate pension funds' total assets and 28% of provincial pension funds. Of respondents with total assets over $1 billion, 26% used a currency overlay manager and 11% were looking to start using one.
Zafar Bhatti, foreign exchange risk consulting director at CIBC World Markets in Toronto, said
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