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Alternative Market Briefing

BlueCrest’ systematic trend following hedge fund loses almost 17% in six weeks - Reuters

Friday, July 05, 2013

Benedicte Gravrand, Opalesque Geneva:

The BlueTrend fund, one of BlueCrest Capital Management’s systematic trend-following hedge funds, has recently had one of its worst ever peak-to-trough losses, writes Laurence Fletcher of Reuters. He adds that a listed feeder fund that channels capital into the $16 billion BlueTrend fund has indeed lost 16.9% between May 17 and June 28. The Feeder replicates the performance of the flagship fund. This equates to a loss of around $2.7bn in the main fund, which has never had a losing calendar year since its 2004 launch.

According to Trustnet.com, BlueCrest’s BlueTrend fund (USD class)’s estimated NAV of the fund’s ordinary share was $0.89 as of 28th June.

Bloomberg reported last week that the $14 billion hedge fund BlueTrend had lost 8.3% in June (and -9.2% in 2013). The fund produced an average annual return of 12.9% since its inception in 2004.

Systematic funds did not fare well in May either. The Barclay CTA Index went down 1.31% in May (+0.61% YTD). "May’s tren......................

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