(Bloomberg) As more details emerged on how hedge funds fared following Britain’s surprise decision to leave the European Union, computer-driven funds led the winners. Human traders appeared to have limited losses by reducing risk.
Lynx Asset Management, which uses mathematical models to decide which securities to buy and sell, posted a 5.1 percent gain on Friday in one of its funds, according to its website. Capital Fund Management, a $7 billion firm in Paris, gained 4.2 percent that day in its Discus fund, while Systematica Investments, the $10.2 billion fund run by Leda Braga, gained 1.35 percent in its main BlueTrend fund, people with knowledge of the matter said.
