ABP prunes USD hedge
In its 2007 annual report, the Dutch fund indicated it would transfer a proportion of the hedge, which yielded a return of 3.3% in 2007, to other currencies. The hedging policy had been in place for over five years and had yielded ABP an extra €8 billion in income since 2004 as the dollar has weakened against the euro.
"We did this to lower volatility in yield and the resulting risk budget can be used for other assets," said Michel Meijs spokesperson for ABP investments. "This change has
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