Reuters – Bluecrest Capital, one of Europe’s biggest hedge fund companies, said on Wednesday it would close a $630 million EU-regulated fund, dealing a blow to the recent boom in onshore hedge fund portfolios.
The company will close the Bluetrend Ucits fund, a computer-driven fund that latches onto market trends, because of its inability to replicate sufficiently the performance of the main offshore Bluetrend fund, according to an investor letter seen by Reuters.
