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.
The manager said the effect of globalisation and the low interest rate environment had increased currency volatility, meaning the wrong hedging decision could wipe out returns. She gave the example...
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