NEW YORK (Reuters) - A listed version of Systematica Investments' flagship hedge fund is down roughly 19% this year, as some trend-following strategies have struggled to navigate the market turmoil caused by the new U.S. trade policies.

The Schroder Gaia BlueTrend fund, which invests in rates, equities, currencies and commodities, is a listed version of Systematica's flagship BlueTrend hedge fund.

The firm, with $17 billion in assets under management, is led by Leda Braga, BlueCrest Capital's former president and head of Systematica trading.

The Financial Times first reported on the listed fund's performance. The report said the fund was hit by bets in markets such as natural gas, silver and coffee, as well as moves in the U.S. dollar and Treasuries.

Systematica did not immediately respond to a Reuters request for comments.