(Reuters) - BlueCrest Capital Management's BlueTrend fund, one of the world's biggest computer-driven hedge funds, has suffered one of its worst ever peak-to-trough losses over the past six weeks.
A listed feeder fund (BBTS.L) that channels capital into the $16 billion BlueTrend fund lost 16.9 percent between May 17 and June 28, regulatory filings show.
The feeder fund closely replicates the performance of BlueTrend's flagship fund, headed by Brazilian-born Leda Braga, one of the hedge fund industry's highest-profile women.
A BlueCrest spokesman declined to comment.
The losses reflect the difficulties faced by computer-driven funds amid the recent sell-off in financial markets.
The feeder fund's performance equates to a loss of roughly $2.7 billion in the main fund, which was launched in 2004 and has never had a losing calendar year.
Data from HSBC Alternative Investment Group shows the fund's worst historical peak-to-trough loss since launch is 12.55 percent in 2006.
Reuters
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