Fund managers pay too much for FX, says report

Fund managers trading foreign exchange for their clients are still buying high and selling low, according to a report published in late March by Russell Investments. "We found that executing entities are still buying at a high and selling at a low," says John Moore, Asia-Pacific executive director of Russell Investment Services in Tokyo and a transition management specialist. The report argues that investors could benefit from employing an agent, such as Russell, to manage FX transact…