How the active currency trading market evolved
July 19, 2010
From managing currency risk to generating alpha
Thanos Papasavvas, head of the Investec Currency Management team, traces the genesis of today’s active currency management back to the early 1980s and to the community of fixed income managers. “Currencies were more volatile than bonds, and unless you managed them properly they would have a decisive impact on the performance of your portfolio,” he says. “From a relatively early stage, bond investors recognised that they had to manage that underlying risk and so it...
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