Swiss Hedge Fund Blue Diamond Falls 17% as Volatility Bets Sour

Blue Diamond Asset Management, a Swiss hedge fund that seeks to profit from volatility, lost almost a fifth of its value during the market rout triggered by US President Donald Trump’s tariff plan.

The Zug-based fund, which oversees about $2.5 billion, has lost 17% in April through Friday, according to people familiar with the matter. That’s worse than Blue Diamond’s biggest ever monthly loss of 7.7% in Oct. 2013, according to documents reviewed by Bloomberg.