Most of currency pain already behind us, say multi-managers

Sterling weakness will not pose as much of a risk to investments in 2009, despite its recent plummet...

Sterling weakness will not pose as much of a risk to investments in 2009, despite its recent plummet to a 25-year low against the dollar, multi-managers T. Bailey and OPM believe. Both groups say that while sterling may still decline further against some currencies most of the pain has already been taken from an investment perspective. The T. Bailey Growth fund has benefited from overweight holdings in Japan and the US on the back of the yen rising 71% and the US dollar appreciating 38% against sterling last year. It currently invests in Martin Currie North America, Vanguard Opportuni...