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John Hancock Currency Fund Sheds 8.7%, Hardest Hit by Swiss Franc Turmoil

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The market turmoil sparked by the Swiss franc’s record surge has turned the $1.9 billion John Hancock Absolute Return Currency Fund into the biggest loser among U.S. peers.

The fund tumbled 8.7 percent yesterday, the steepest drop on record and the most among more than 2,000 U.S.-domiciled funds tracked by Bloomberg with at least $1 billion under management. The strategy is run by First Quadrant, a $19 billion investment firm that also manages hedge funds. The fund had its second-biggest short position in the franc at the end of November, according to the latest fact sheet on John Hancock’s website.