Well its down more today, and so is APD.
I don't like hedging. If they do it consistently, then you lose some and you win some as the currency rises and falls. Which is OK.
What happens all to often, is that companies make capricious changes to their hedging "strategy", often on the advice of dubious advisers, with the result that as currency fluctuates, the unitholders lose some and then lose some more.
