Largest Currency Hedge Fund Returns 12% in 2010
The $3.2 billion Global Currency Program jumped 12.53% in 2010, Bloomberg News reports. It’s the New York-based firm’s best year since 2006, when it added 18.58%, and a welcome relief from 2009, when it lost 17.9%.
Firm founder John Taylor said FX made its money betting on the euro over the dollar in the first half and reversing that bet in the second half.
The returns could have been better but for the Federal Reserve’s decision in late August to begin another round of stimulus. Source