Citi largest counterparty for Templeton currency hedges
Citi accounted for 23% of outstanding forwards at end-March
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
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