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"The fall in sterling over the last decade has masked core investment selections by fund managers as they have enjoyed the majority of their returns from this decline," - Tavistock's Christopher Peel
Industry commentators have warned the majority of advisers and wealth managers have failed to hedge their foreign currency holdings into sterling, meaning a rally in the pound could wipe out returns.
In a further warning, they said unknowing investors in safe-haven assets such as global bond funds will be hardest hit by a sterling rally, as bonds are most affected by currency movements. In 2016,...
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