BlueCrest's BlueTrend Set For First-Ever Losing Year

Dec 19 2013 | 11:47am ET

One of the hedge fund industry's most prominent female managers doesn't have much to celebrate this holiday season.

BlueCrest Capital Management's BlueTrend Fund, helmed by Leda Braga, is down about 10% through early December, The Wall Street Journal reports. The US$16 billion fund has never suffered a losing year.

The London-based firm, which has been hiring aggressively and which plans to move into much larger office in New York, has seen its other funds post gains this year, including its flagship, led by firm founder Michael Platt. That fund is up 11% through November, and other funds, including a credit vehicle, have posted gains.


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