The Traderszone Network

Published in TZ Latest News 17 January, 2015 by The TZ Newswire Staff

Large Everest Capital hedge fund closing after Swiss franc losses: Bloomberg

Hedge fund manager Marko Dimitrijevic is closing his largest hedge fund, Everest Capital’s Global Fund, having lost almost all its money after the Swiss National Bank (SNB) scrapped its three-year-old cap on the franc against the euro, Bloomberg news reported on Saturday. Citing a person familiar with the firm, Bloomberg said the fund had been betting that the Swiss franc would decline.