BlueCrest Spins Off Braga’s BlueTrend, Fires Managers
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Michael Platt’s BlueCrest Capital Management LLP is spinning off its computer-driven hedge funds into a separate investment firm, just weeks after saying it would cut their management fees as assets drop.
The new firm, Systematica Investments, will be led by Leda Braga, BlueCrest’s head of systematic trading, and manage the $8.3 billion in BlueTrend Fund and BlueTrend 2x Leveraged Fund, London-based BlueCrest said in a statement today.