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 that channels capital into the $16 billion BlueTrend fund lost 16.9 percent between May 17 and June 28, regulatory filings show.
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The feeder fund closely replicates the performance of BlueTrend's flagship fund, headed up by Brazilian-born Leda Braga, one of the hedge fund industry's highest-profile women.
A BlueCrest spokesman declined to comment.
Such performance equates to a loss of roughly $2.7 billion in the main fund, which was launched in 2004 and which has never had a losing calendar year.
(Reporting by Laurence Fletcher; editing by Sinead Cruise)