Edgar’s Atreaus Hedge Fund Rose 10% Last Week on Weakening EuroKatherine Burton
Todd Edgar’s Atreaus Capital rose 10 percent last week as the currency and commodities hedge fund speculated that the euro would tumble.
The $800 million New York-based fund is up about 10 percent so far this year, said a person familiar with the fund who asked not to be named because the firm is private.
Last week, the Swiss National Bank unexpectedly lifted the cap on the franc, allowing it to rise freely against the euro. The Swiss currency strengthened against the euro by as much as 41 percent on Jan. 15, the day the central bank made its move. For the week, all major currencies strengthened against the euro, according to data compiled by Bloomberg.
Edgar declined to comment on the fund’s performance.
Atreaus, backed with $150 million from Goldman Sachs Group Inc.’s asset management arm in 2012, rose 9 percent last year, the person said, helped by wagers that the dollar would rise and that soybeans would tumble as favorable weather conditions produced a bumper crop.