SNB fallout claims hedge fund victims

Major hedge funds in London and New York affected

A meat cleaver cutting through the word losses

Multi-million-dollar hedge funds have emerged as the latest victims in the fallout from the Swiss National Bank's (SNB) decision to scrap its EUR/CHF currency floor on January 15.

Everest Capital was reported to have closed its largest fund after losing a bet that the Swiss franc would decline in value. The currency instead appreciated significantly against the euro following the floor's collapse to 0.85 before stabilising around parity shortly afterwards. The fund is understood to have had

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services -, or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: