Bond Fund Managers Favour Dynamic Currency Management

FUNDS

LONDON--International bond fund managers are showing an increasing appetite for currency hedging strategies, according to a survey by Edinburgh-based consultants, the WM Company.

Lindsay Smart, a director at WM, says that 26 per cent of international fixed income portfolios now employ some form of currency hedging strategy, from a low of 10 per cent at the beginning of 1997.

The upswing reflects an investment trend towards fixed income funds in recent months, says the report. It adds that inve