The most powerful woman in hedge funds is off to a red-hot start at the helm of her own firm. Leda Braga—who launched Systematica Investments in January after years under prominent European hedge fund firm BlueCrest Capital Management—steered her $7.6 billion flagship BlueTrend fund to a 9.52 percent gain net of fees last month, according to a private performance update sent to investors. BlueTrend won mostly on unspecified bond bets, according to the letter. Much smaller returns came from correct interest rate plays, stocks and energy-related securities. BlueTrend lost a small amount on currency bets over the week ... (full story)