PIMCO's Sundstrom: It is the first time in my career where FX has had such a deep impact on asset selection

Underweight European equities

Geraldine Sundstrom, managing director and manager of the €1.1bn GIS Dynamic Multi Asset fund at PIMCO, has said responding to the "cold currency war" is increasingly becoming a crucial part of her investment process, due to its impact on market performance.