Investment manager searches involving currency mandates surged in Australia in 2007, according to Mercer’s Manager Search Trends: 2007 Year-End Report.
Mercer’s report notes that after several years of minimal activity there were multiple searches by Australian institutional investors for currency managers last year because of recent fluctuations in the value of the Australian dollar.
Australia was the only country stated by Mercer as experiencing a significant increase in currency related searches. Global equity and real estate were the most searched product categories globally in 2007 while global fixed income re-emerged as a significant search category across Europe, excluding the UK.
Mercer’s report is designed to give insight into institutional investment mandate hiring patterns and trends across the world, and is based on activity reported through Mercer's global client database. During 2007, Mercer advised on 762 manager searches across the world.