Historical Funding Flows into Cross-Border Mandates
through Market Cycles
In this memo, we take a closer look at the relationship between performance and historical funding patterns, with a specific focus on historical funding behavior in InterSec's International and Emerging Markets Universes. We also review the increasing interest in international fixed income mandates and the negative impact passive currency hedging has had on international investors year-to-date. We believe this analysis sheds light on the factors influencing current funding decisions and potentially offers insight into future funding expectations and plan behavior.