Citi largest counterparty for Templeton currency hedges
The Templeton Global Bond Fund tapped Citi for the largest share of its currency forwards as of March 31.
As disclosed in the fund’s biannual Form N-Q, Citi had outstanding forward contracts with the fund in the amount of $9 billion at the end of the first quarter, representing 23% of its total portfolio.
JP Morgan was the next largest counterparty, with $6.4 billion in outstandings, representing 16% of the portfolio. HSBC, Bank of America, and Goldman Sachs completed the top five with share
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