Investors shun FX-only funds
The survey revealed only 4% of 623 real-money managers are running dedicated FX funds this year, compared with 30% last year. Similarly, 15% of 477 leveraged or active managers are running FX-only funds this year, versus 23% in 2007.
"There has been a sharp drop-off in people running FX alpha funds," said Justyn Trenner, chief executive officer at ClientKnowledge in London. "There are now more managers trying to manage FX risk against real underlying assets."
According to Trenner, the shift
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