Swiss franc fallout claims hedge fund victims

Major hedge funds in London and New York affected

A meat cleaver cutting through the word losses
Hedge funds lose out over Swiss central bank decision

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 asse