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FX Concepts Considers Closing Flagship Fund to Stay Afloat
 
  Hedgeweb - TUE, OCT 08 2013
Funds & Investment Reuters reports that FX Concepts, once the world's largest currency hedge fund, is examining several options to stay afloat, including closing its main fund after a flood of withdrawals left overall assets at a fraction of the $14 billion peak, according to the firm's chief strategist.

Bob Savage, formerly with Goldman Sachs, said FX Concepts' Global Currency Program flagship fund was down 10 percent so far this year and "we're thinking of shutting it down." He said FX Concepts wants to reallocate resources to other strategies that are profitable. It has four other funds.


FX Concepts Considers Closing Flagship Fund to Stay Afloat

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