BlueCrest Capital Management is understood to be losing a number of portfolio managers and traders, including a 26-year-old rates specialist who was promoted to partner earlier this year, as macro hedge funds contend with a difficult trading environment, according to a report by eFinanical Careers.

The report cites unnamed people familiar with the matter as highlighting that around 10 employees have either recently left BlueCrest or are preparing to depart. The reasons for the departures are unclear, and the firm did reportedly not respond to requests for comment.

Among those reportedly leaving is Ben Turner, the former Barclays sterling rates trader who joined BlueCrest and was made a partner on 1 May at the age of 26. Turner remains registered with BlueCrest with the UK Financial Conduct Authority, suggesting his departure may not yet be complete.

Other recent or earlier exits include Robert Robinson, who joined BlueCrest from Hudson River Trading and left its UK entity on 25 September, according to regulatory records. Tom Bowden has moved to Wellington, while Ankur Aneja departed earlier this year. Ben Atlas has also left BlueCrest for ExodusPoint.

BlueCrest's exits are understood to have been concentrated in its rates trading operation, which is run by Joseph Walkrush from Miami. The firm has not indicated whether the departures form part of a broader restructuring or reflect individual decisions by portfolio managers.