Morgan Stanley Sweeps Global Investor's FX Survey of Hedge Funds
When Global Investor recently polled hedge fund managers about which banks they turned to for foreign exchange services, the unanimous choice was Morgan Stanley.
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When Global Investor recently polled hedge fund managers about which banks they turned to for foreign exchange services, the unanimous choice was Morgan Stanley. The UK-based monthly gave managers 20 different categories in which to rank an array of services from the banks. Morgan Stanley placed first for excellence in all.
This marks the second year in a row that Morgan Stanley has dominated among hedge funds. The poll results appear in a supplement in the June 2005 issue. Service categories are broken up into two rankings. Ranking 1 weighs each vote according to excellence. Ranking 2 weighs votes with the intent to reward consistency.
"Hedge funds may be relatively new to embrace foreign exchange as an asset class, but they have certainly made their presence felt in a relatively short space of time," Global Investor reported. According to a Greenwich Associates report cited, FX activity nearly doubled in 2004. Average FX trading volume in 2004 grew by almost 25 percent. Average volume generated during that time reached US$62bn.
Morgan Stanley took first-place rankings for excellence and for consistency in:
- Best FX Service Overall
- Most Improved to Service Over the Last Twelve Months
- Research: Developed Market Currencies
- Research: Asia Pacific Currencies
- Research: Emerging Market Currencies
- Trading: Developed Market Currencies
- Trading: Emerging Market Currencies
- Best Advice on Option Trading Strategies
- Best Economic Research
- Best Technical Analysis Research
- Best Capital Flow Research
- Most Comprehensive Sales Coverage
- Best Risk Management Services
- Best Trading or Portfolio Management Technology Integration
- Best On-Line Research Website for FX
Morgan Stanley took first-place rankings for excellence in:
- Trading: Asia Pacific Currencies
- Best Advice on Spot Trading Strategies
- Best Daily Research
- Best FX Strategy Solutions
- Best Data for Quantitative Analysis
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