Aug. 9 (Bloomberg) -- A $1.8 billion publicly traded hedge fund managed by Highbridge Capital Management LLC, a unit of JPMorgan Chase & Co., has lost 5.3 percent of its value so far this month. The Highbridge Statistical Market Neutral Fund, representing about 5 percent of the New York-based hedge-fund firm's $37 billion in assets under management, was designed using mathematical models to make money in rising or falling stock markets, according to fund documents. With the decline in the past six trading days, the fund has fallen 3.3 percent this year.

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