BlueCrest Trims Fees for Computer-Driven Funds
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Michael Platt’s BlueCrest Capital Management LLP cut management fees on its $8.2 billion computer-driven hedge funds after assets tumbled in the past year.
The firm’s BlueTrend Fund and BlueTrend 2x Leveraged Fund, which uses borrowed money to amplify returns, will charge a 1.5 percent management fee, down from 2 percent, the London-based firm said in a Regulatory News Service statement today. The fee reduction took place on Aug. 1.