The Hedge Fund Known As The Swiss National Bank Posts A Record $23 Billion Loss, Down 4%, On EUR, AAPL, VRX
by Tyler Durden
ZeroHedge.com
01/08/2016
In a year in which the smartest money around the world failed to generate any profit, the hedge fund known as the SNB was likewise slammed, and earlier today, it announced in a preliminary report (the full results will be out on March 4) that it had suffered a CHF23 billion ($23.05 billion) loss in the past year, or about 4% of its assets under management. In retrospect, considering some of the double-digit losses recorded by the marquee hedge fund names, a 4% loss looks downright respectable by funds who “hedge” only in name.
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