BlueCrest Sales Chief, Fund Manager Leaves Hedge Fund

``After less than five months on the job, Steve Smith is out at BlueCrest Capital Management... No reason was given for Smith’s abrupt departure, which was first reported by Bloomberg News... The firm also recently announced plans to close its systematic quantitative BlueTrend Fund to new investors when it hits US$10 billion in assets. The BlueTrend fund soared 43% in 2008, a year in which the average hedge fund sank by double-digits. Last year, it posted a much more modest return of 4.3%.''