The Morningstar Australasian Bond Index includes the most liquid sovereign bonds issued in Australian Dollars (AUD) and New Zealand Dollars (NZD) by the governments of Australia and New Zealand respectively. Returns for this index, denoted as HDG, reflect those in the local market, as well as the costs and returns of forward currency contracts intended to offset gains or losses that would otherwise be incurred as the result of converting back to US Dollars (USD).
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