Who works on hedging?
If your fund plans to hedge a position (a defensive mechanism, not a money-making strategic decision), does the PM still work on the details of it, or does Operations take care of it?
If your fund plans to hedge a position (a defensive mechanism, not a money-making strategic decision), does the PM still work on the details of it, or does Operations take care of it?
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Generally the PM/traders.
Generally the PM would still have to make the decision. It's not something I'd leave to anyone else to decide unless it's a very mechanical hedge (i.e. in Investment Grade credit, you often buy treasuries to hedge the interest rate risk so you are just trading the credit spread).
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