Jaco Rouw, senior portfolio manager, global FX at ING Investment Management, examines emerging market FX and the prospects for an unloved asset class .
Foreign exchange is not the hottest asset class at the moment. While it is true, trading in foreign exchange markets continues to increase, it is not all plain sailing. Recently brokers and foreign exchange (FX) trading platforms have complained about low trading activity while, more importantly, FX returns have been disappointing. The G10 FX returns are often characterised by the returns on common strategies like carry, trend and value. All these strategies reached their peak quite a few years ago. Related to that, many FX funds have been liquidated, and some well-known FX managers h...
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