Currency Funds Are Turning to Value After Carry Trade’s Epic Run

From bnnbloomberg.ca

A growing number of currency funds are looking to battered currencies that could benefit from lower interest rates as they attempt to replicate 2023’s blockbuster returns from the carry trade. Betting on a so-called value strategy — by buying into the cheapest currencies and positioning for them to rise against more expensive ones — is now being adopted by an increasing number of investors, according to Bank of New York Mellon Corp., which has a bird’s-eye view on more than $45 trillion of asset flows. CIBC Asset Management, Allspring Global Investments and Neuberger Berman, which together control more than ... (full story)