Mark Carney seeks answers as funds avail of sterling crash

Computer-driven hedge funds were most likely the main winners when sterling lost a tenth of its value to a 31-year low in a matter of minutes yesterday, investors said.

There were some losers too but many of these hedge funds have been running significant bets against the pound since earlier this year, ahead of the June 23 referendum on Britain’s EU membership.

The $200m (€180m) computer-driven hedge fund Piquant Technologies made between 10 and 15 basis points of profit — or roughly $200,000 and $300,000 — from a short position made before the flash crash.