Computer-driven hedge funds that follow market trends have struggled to produce returns for their investors this year, having wrestled with sideways movements in the currency and commodities markets.

"Trend-following strategies are supposed to capture directional moves over a medium to long-term window and we haven’t seen many sustained trends this year,” said James Skeggs, Societe Generale's head of alternative investments consulting. "Trend-following funds are likely to always struggle when you see sideways range-bound markets."