Fund launches & closures

BlueCrest adds to quant equity range with new BlueCube

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BlueCrest has added to its growing range of systematic trading strategies with the launch of a new multi-strategy quant equity market-neutral fund called BlueCube.

The new fund launched quietly at the start of October, with an initial $50 million in assets. BlueCube is the firm's second quant equity strategy, following the successful launch of the BlueMatrix fund in 2007.

While BlueMatrix has limited capacity, the firm expects BlueCube to have initial capacity of up to $2 billion - which will grow further as the systematic strategy expands.