Nearly 94% of mid-sized US and Canadian fund managers are now actively hedging their currency exposure, up from 85% a year earlier, according to a survey by MillTech conducted in June 2026 among 250 firms managing between $500 million and $20 billion in assets. 97% of respondents reported having suffered losses from unhedged FX exposure, with average losses reaching $731,000. 63% of managers plan to extend their hedge tenors given the current volatility environment. The main drivers cited include geopolitical uncertainty, trade disputes, and central bank policy shifts. Smaller funds managing between $500 million and $1 billion are hedging at 98%, compared to 88% for larger funds.
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