I think money managers should be aware of Forex changes. It affects their returns. Buying US assets would have been a good play by them when the AUD was high. But I wouldn't cut them much slack for not seeing the rising AUD with iron ore demand which we saw around a year ago. If Hamish doesn't want to hedge that's his call, but it will affect his short/medium term return and is judged by it. I personally trust that his US portfolio will outperform long run to be honest, with defensive setup etc. It suits some but not others I guess.
MFG Price at posting:
$48.81 Sentiment: Hold Disclosure: Held
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