Weak yen costs schemes billions

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SCHEMES lost more than £2bn in the Far East last year by failing to hedge their exposure to the weak yen, experts say.

UK pension funds had 4.5pc of their assets – about £31.5bn – invested in Japan in 2006, figures from WM Company show. The FTSE Japan Index rose by 6.6pc in local currency terms during 2006 but slu...

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