RT Journal Article SR Electronic T1 International Benchmarks JF The Journal of Investing FD Institutional Investor Journals SP 53 OP 62 DO 10.3905/joi.2000.319420 VO 9 IS 2 A1 Stephen Gorman A1 Edward Qian A1 Ronald J Surz YR 2000 UL https://pm-research.com/content/9/2/53.abstract AB The question of policy level currency exposure continues to generate discussion in the pension management community. Too often, plan sponsors relegate the issue to unhedged (and, less frequently, hedged) benchmark absolutisms. The authors convey their belief that strategic asset and currency positions should be determined separately, and that a partially hedged benchmark generally represents a prudent alternative to the widely used unhedged benchmark.