BlueCrest Sales Chief, Fund Manager Leaves Hedge Fund

Feb 5 2010 | 3:51pm ET

After less than five months on the job, Steve Smith is out at BlueCrest Capital Management.

Smith served as head of sales and co-manager of BlueCrest’s AllBlue Fund since joining the firm on Sept. 22. He was also a member of the US$16.7 billion firm’s executive committee.

No reason was given for Smith’s abrupt departure, which was first reported by Bloomberg News.

BlueCrest, Europe’s third larges hedge fund firm, has raised £101 million ($164.5 million) through a new share issuance for its BlueCrest AllBlue fund in December.

The firm also recently announced plans to close its systematic quantitative BlueTrend Fund to new investors when it hits US$10 billion in assets. 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

Bob Doll's Ten Market Predictions For 2016

Jan 7 2016 | 9:37pm ET

Well-known market strategist Robert Doll has published his annual list of ten predictions...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...