Banks Compete for FX Hedging Business of Australia Pensions

Wall Street banks like Bank of America (BAC) , Goldman Sachs (GS) and Citigroup Inc. (C) are competing to handle oversea investments of Australian pension funds.Particularly, Australian pension funds are increasingly investing more of their funds overseas, given the limitation of investment options in the small domestic private and public markets. Hence, banks like GS, BAC and C can offer foreign currencies trading services and handle foreign exposure hedging needs of the funds.In recent years, Australian p ...