MTAA Super denies losing A$500m through removed hedges

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AUSTRALIA - The CEO of the AU$5.8 (US$6.15bn) MTAA Super has hit back at media reports suggesting the fund lost A$500m during the global financial crisis because it removed hedges as the Australian dollar was plummeting against other currencies.

In a statement, MTAA Super CEO Michael Delaney said the fund did not have A$500m in losses, but refused to say exactly how much was lost as a result of removing currency hedges. The fund's second s...

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