BlueCrest To Close Flagship Fund At US$10 Billion

Jan 29 2010 | 10:41am ET

In another sign that things are returning to normal in the hedge fund industry, an increasing number of successful firms are closing their best funds to new investors.

The latest to make such a move is BlueCrest Capital Management, which will close its systematic quantitative BlueTrend fund at US$10 billion, Financial News reports. The fund currently manages US$9 billion of the London-based firm’s US$17.2 billion.

BlueCrest is the second top hedge fund to tell investors it will close a fund this week. Former GLG Partners star trader Philippe Jabre announced that he would close his Jabre Capital’s flagship Multi Strategy fund at US$2.5 billion.

The increase in recent closings—over the past three years, the proportion of hedge funds closed to new investment dropped to 13% from 17%, according to the Credit Suisse Tremont Index—is a sign that investors are beginning to pour assets back into the hedge fund industry, especially into those funds that have done well amidst the recent market crises. Many top funds reopened for the first time in years during the recession to replace billions in assets lost to redemptions and poor performance.

The BlueTrend fund soared 43% in 2008, a year in which the average hedge fund sank by double-digits. Last year, it posted a much more modest return of 4.3%.


In Depth

Will Liquid Alts’ Performance Sustain Future Asset Flows?

Aug 25 2014 | 10:34am ET

Liquid alternative investment funds saw the highest percentage of capital inflows...

Lifestyle

Och Funds Women In Finance Initiative At U-M

Aug 28 2014 | 3:01pm ET

Och-Ziff Capital founder Daniel Och and his wife have made a "generous donation"...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

The time was right

Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.