February 5, 2015 / 1:16 PM / 5 years ago

BlueCrest spin-out BlueTrend hedge fund gained 9.5 pct in Jan

LONDON, Feb 5 (Reuters) - Systematica Investments, which spun out of BlueCrest Capital Management in January, gained 9.52 percent in its BlueTrend hedge fund last month, according to a letter to investors seen by Reuters.

The computer-driven hedge fund, led by BlueCrest’s former head of systematic trading, Leda Braga, manages $7.6 billion and is one of the top performers in a month when similar strategies, as measured by industry tracker Eurekahedge, gained 4.7 percent on an average.

The returns mark the third-best monthly performance for the fund, which launched over 10 years ago.

Ed Orlebar, a spokesman for Systematica, declined comment.

Reporting by Nishant Kumar; editing by Carolyn Cohn

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