FX safe from equities threat

Infrastructure, the proven usefulness of FX overlay management and the difficulty of winning back full investor confidence in equities, they said, would help retain flow from this source, which has increased as stock market returns have flagged over the past two years.

Although some diminishment of flows to FX overlay can be expected, should the performance of equities "vastly overshadow" FX returns, said Richard Knight, head of UK institutional FX sales at BNP Paribas in London, any diminish