Pimco doubles down on FX forwards trades in Q1

- By Cole Lipsky
- 18 Jun 2024

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Pimco nearly doubled the size of its foreign exchange forwards portfolio in the first quarter of 2024, where it now commands almost a fifth of the market.

This increased activity – from $114 billion in the fourth quarter of 2023 to $211 billion – helped drive much of the growth in mutual funds’ forwards books, accounting for nearly 60% of all notionals added by asset managers.

The California-based fund manager’s actions had a notable effect on a multitude of dealers, as Pimco yielded four of the

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