Franklin Templeton has become the largest user of foreign exchange options among US mutual funds, taking the top spot from Morgan Stanley Investment Management for the first time since the end of 2020.
The California-based fund manager increased notional volumes by around $340 million during the third quarter of 2024, taking the total size of its FX options book to nearly $5.9 billion.
Meanwhile, MSIM continued to cut the size of its renminbi-denominated positions, this time by just over $700
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