Well, I’m presuming they didn’t do it with 39% net exposure (VG1 in September 2022) or perennial currency hedging.
Credit to Regal though for the changes they’ve made since the merger. Net exposure ended last week at 89% (although it appears they’re not publishing the weekly long and short percentages anymore).
I’m hoping the currency hedging might be one of the next things to go, though no indication from the commentary thus far.
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