Hedge Funds Pour It On Battered Pound

Mar 29 2010 | 12:55pm ET

Three of the U.K.’s biggest hedge funds have posted huge profits on the British currency’s pain.

BlueCrest Capital Management, the Man Group and Winton Capital have earned “hundreds of millions of pounds” on the downturn of said pound Sterling, the Daily Mail reports. The pound is down to less than US$1.50, US$0.20 lower than it was over the summer.

According to Harry Adams of foreign exchange broker Schneider, currency investors are betting on further falls for the pound. He said that were Britain to lose its triple-A credit rating, the currency could fall to just US$1.20 in a “disaster for sterling,” Adams told the Mail.


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...

 

FINalternatives Trending

From the current issue of