Leda Braga’s Hedge Fund Shows Strong Performance in January, 2015
BlueTrend, which is run by the Brazilian-born Leda Braga, one of the most prominent women in the hedge fund industry, achieved a 9.5 percent return a strong start for her business that spun out of BlueCrest Capital Management last month.
The
gain in the $7.6 billion fund, which uses complex computer models to
evaluate risk, pricing and timing in markets, marks its third-best
monthly performance since launch over 10 years ago, according to a
letter to investors seen by Reuters.
The
hedge fund did not disclose how it made money but the letter showed
that fixed-income securities contributed most to the gains, followed by
interest rates trading and equities.
The
hedge fund also avoided loss during the week of Jan. 16 when a surprise
move in the Swiss franc led to heavy losses for some of the world's
best known hedge funds such as Harness, Fortress and COMAC Capital.
The
performance comes after the BlueTrend fund was forced to cut fees after
losing 11.5 percent in 2013 and seeing outflows. The fund gained 12.7
percent last year.
January's
return make the fund one of the top performers in a month when similar
strategies, as measured by industry tracker Eurekahedge, gained 4.7
percent on average.
Brazilian-born
Braga was the head of systematic trading at billionaire fund manager
Michael Platt's firm BlueCrest. She spun out of the firm last month with
about $8.9 billion in assets to start Systematica Investments.
Source: Reuters
