BlueCrest doubles money in bond market rout
BlueCrest Capital, the investment firm co-founded by billionaire bond trader Michael Platt, has more than doubled its money this year after betting that inflation and rising interest rates would pummel debt markets.
The secretive group, which was once one of the world’s biggest hedge funds before opting to convert into a family office in late 2015 to take more risk in markets, has so far this year made a return of 114 per cent, according to a person familiar with its returns.
Such a gain ranks BlueCrest as one of the world’s top performing investment firms in what has been a volatile year for many hedge fund managers. While the level of the firm’s total assets is unclear, such returns are nevertheless highly unusual for a group managing billions of dollars of assets.
This story originally appeared on: Financial Times - Author:Laurence Fletcher
