WSJ – Singapore-based Dymon Asia Capital Ltd. ended the first quarter with a sharp decline in its largest hedge fund, a bruising performance for one of Asia’s biggest managers but also a quick turnaround from heavy losses suffered earlier in the year.
The Dymon Asia Macro Fund is down 5.5% after fees through March, according to a letter sent to investors this week and seen by The Wall Street Journal. The fund slid 10.5% in January, one of many around the world to be rocked by the Swiss National Bank’s shocking decision to scrap a three-year-old policy limiting the value of the franc against the euro and roiling widely held negative bets on the Swiss currency.
