Machines Lead Hedge Fund Traders in Brexit Chaos, Braga Wins
- Lynx Asset Management posted 5.1 percent gain on Friday
- George Soros said he was ‘long’ sterling before vote
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As more details emerged on how hedge funds fared following Britain’s surprise decision to leave the European Union, computer-driven hedge funds led the winners. Human traders appeared to have limited losses by reducing risk.
Lynx Asset Management, which uses mathematical models to decide when and 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.