We compare single factor Markov-functional and multi factor market models for hedging performance of Bermudan swaptions …. We show that hedging performance of both models is comparable, thereby supporting the claim that Bermudan swaptions can …

This paper tests whether hedging currency risk improves the performance of international stock portfolios. We use a … show that static hedging with currency forwards does not lead to improvements in portfolio performance for a US investor … one of the currencies, currency hedging clearly improves his portfolio performance. While these results hold for investors …