Oct
16
Nordea’s $22 Billion Flagship Fund Is Now Betting on the Pound
By-
Stable Return fund is betting against commodity currencies
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Fund has increased holdings in emerging market stocks
Nordea Bank’s Stable Return fund, Europe’s fastest growing asset manager, is betting the British pound is now on its way up.
It’s a shift of strategy from earlier this year, when the 20 billion-euro ($22 billion) fund bet against sterling using the yen. It profited from that wager, with the pound losing 28 percent this year against the Japanese currency as Britain voted to leave the European Union…
Nordea’s $22 Billion Flagship Fund Is Now Betting on the Pound
