New Currency Managers Enter The Fray Fight For Overlay Contracts Heats Up

BANKS

Although large pension-fund overlay contracts remain few and far between, the number of overlay managers is growing, and competition is getting more intense. Small quantitative firms with technical and fundamental trading models struggle to gain a foothold in the industry as U.S. investors show renewed interest in currency hedging with the drop in the dollar over the past year.

One of the newest entrants is Travelers Insurance Co. with a subsidiary called Timco, for Travelers Investment Manag