Computer hedge fund trebles profit to £60m

Aspect Capital, a UK hedge fund manager that relies on computers to drive its investment strategy, more than tripled its profits from £19m (€21m) to £60m last year generating its best investment performance in its 10-year history.

The company, which as a managed futures manager relies on computer programmes that it has developed, said in its financial statement: "The performance of the company's systematic programmes was generally strong. In spite of the often extremely volatile trading environment, the Aspect Diversified Fund generated a net return of 25.41%, the best annual performance in the 10-year history of the fund. These returns emphasise the benefits of a systematic and disciplined approach to investment management."

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