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One
of the biggest hedge fund firms in Europe, led by billionaire
Michael Platt, it has diversified away from its core strategies
focused on interest rates, fixed income and credit.
The return includes money made in August and September, when the
MSCI World Index lost a tenth of its value on fears of a
slowdown in China and uncertainty over an interest rate rise in
the United States, inflicting heavy damages on most hedge funds
betting on the rise and fall in the value of shares.
Peers, as measured by the HFRI Equity Hedge (Total) Index, lost
3.1 percent in August and 1.7 percent last month, on average,
ending September down 2.2 percent for the year. By comparison,
the BlueCrest Equity Strategies Fund gained 1.2 percent in the
last two months, the data showed.
The fund opened to external investors in April and has since
grown $1 billion in internal capital to $1.3 billion, a letter
to investors at the end of August, and seen by Reuters, showed.
Ed Orlebar, a spokesman for BlueCrest, declined to comment.
The firm has hired more than two dozen separate teams spread
across London, New York, Hong Kong and Singapore to invest for
the equity fund. The teams are led by Christian Dalban, the
former global head of equities trading at Nomura.
The BlueCrest Capital International, the firm's flagship fund
managed by Platt, was down 0.8 percent through the end of
September this year, recovering from a near 6 percent loss in
January, partly from bets that went sour after an unexpected
surge in the Swiss franc.
The firm's multi-strategy AllBlue Fund, which manages about $7
billion, was up 2.5 percent in the nine months to September.
BlueCrest's assets have fallen to about $8.4 billion from a peak
of $37 billion in 2013 due to investor withdrawals and the loss
of $8.9 billion in assets which followed Leda Braga when she set
up Systematica Investments earlier this year.
(Editing by Ruth Pitchford)
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