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Komfie Manalo, Opalesque Asia:

The surge in the Swiss franc has claimed more casualties.

Michael Platt’s $15bn hedge fund BlueCrest Capital Management announced it was closing a trading book run by Peter Von Maydell after sustaining significant losses from the 41% surge in Swiss franc’s value against the euro on Jan 15.

Von Maydell will stay at BlueCrest but details of his new role at the hedge fund remain unclear, said BusinessWeek.

Comac Capital, the $1.2 billion London-based hedge fund firm run by Colm O’Shea, is returning money to clients after losses from the ending of the franc’s cap against the euro. According to Bloomberg, the fund lost 8% when the franc surged, bringing the month to date loss to 10%. Comac’s macro fund seeks to profit from broad economic trends by trading everything from bonds to commodities and was launched in 2006.

An investor letter from Comac apparently said: " "The SNB decision to abandon the currency floor led to the most significant loss of Colm's career and will have a substantial negative impact on the macro fund and firm," reported Reuters......................

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