BlueCrest Revamps BlueMatrix Trading Program

Oct 19 2012 | 11:08am ET

BlueCrest Capital, the $33 billion hedge find giant, has designed five brand new programs for its 'black box' BlueMatrix fund, reports Reuters.

The changes are intended to improve its use of computer algorithms to automatically trade assets.

A source familiar with the fund told the news agency that BlueCrest has added a program that looks at companies financial statements, one that considers analysts' recommendations, one that trades based on analysts' earnings revisions, one that looks at stocks' price-to-earnings ratios and one that uses trading signals from Leda Braga's $16 million BlueTrend fund.

The old BlueMatrix model has been left in the new system.

The fund's assets have risen from $560 million when the changes were presented to investors at the beginning of October to $620 million, said the source.

BlueCrest's AllBlue has a holding in BlueMatrix which it blamed for its 1.16% loss in H1 2012.


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.