Possibly because they earn much higher MERs on foreign funds, maybe because they also don't always have to disclose what
kinds of currency hedges and such are in place or maybe because they can pretty much invest in anything they want in between quarterly reports, or maybe so that they can travel to great places paid for by the money they manage?
Not exact matches
What
kind of difference in performance do you get from the added expenses and
currency hedging?
There are all
kinds of risk arbitrage:
currency arbitrage, convertible arbitrage, commodity
hedging, derivatives arbitrage, Corporate Events Risk Arbitrage (CERA), etc..