Pension funds scramble for FX management

The low growth offered by equities recently and the sharp fall seen by the dollar this year has led pension funds to focus on how they manage their currency exposure. Bill Muysken, global head of research for Mercer Investment Consulting in London, said: in the area of currency management has picked up substantially. For the year to date we've seen 20 clients asking for advice on currency compared with just four for the whole of 2003."

Anita Higgins, director of institutional business at BGI,