John Taylor's FX Concepts confirms wind down

John Taylor, chairman and CEO of FX Concepts
Adam Jeffery | CNBC

FX Concepts—John Taylor's once-$14 billion, currency-focused hedge fund firm—is shutting its asset management business.

Vice chairman Jonathan Clark confirmed CNBC.com's report Monday that the firm is liquidating its hedge funds following years of poor performance and falling assets.

"The Board of FX Concepts has announced that the company will wind down its investment management business over the next few weeks," Clark said in a statement to CNBC.com.

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