BlueCrest AllBlue Fund Ltd Replacement - Performance Update (8636U)
21 Octubre 2014 - 4:00AM
UK Regulatory
TIDMBABS TIDMTTM TIDMBABU
RNS Number : 8636U
BlueCrest AllBlue Fund Ltd
21 October 2014
BLUECREST ALLBLUE FUND LIMITED
CORRECTION TO MONTHLY PERFORMANCE REVIEW ANNOUNCEMMENT
This announcement replaces that released on 21 October 2014 at
07.00am under RNS Number 7999U.
There are two changes to the previous announcement:
1. The percentage increase of the rolling return rose to 9.0% not 10.1% as previously stated.
2. The wording in the paragraph "BlueCrest announced the
spin-off of the systematic business" is corrected to read
"BlueCrest recently announced the spin-off of the management of the
systematic business into a new investment manager, Systematica
Investments, from the beginning of 2015, subject to regulatory
approvals. Systematica will be led by Leda Braga, Head of
Systematic Trading at BlueCrest. For AllBlue, this will impact only
BlueTrend as BlueCrest will continue to manage AllBlue's exposure
to quantitative equity trading under the continuing leadership of
Frank Fehle. BlueCrest have stated that close ties will continue
between the two managers and AllBlue will continue to allocate to
BlueTrend. The board of BCAB have held detailed discussions with
BlueCrest about possible implications of the changes and are
satisfied that the proposed changes will have little impact on
AllBlue".
All other details remain unchanged. The full corrected
announcement is as follows:
BLUECREST ALLBLUE FUND LIMITED (THE 'COMPANY')
MONTHLY PERFORMANCE REVIEW FOR SEPTEMBER 2014
"The rolling 12 month return rose to 9.0 %"
BlueCrest AllBlue Fund Limited (BCAB) rose by 0.2% in September
bringing the year to date return to 6.0% (Sterling Class NAV). The
rolling 12 month return rose to 9.0% in September. Volatility
remained low and stable at 2.2%.
Emphasising the disparity in central bank policies, economic
data were divergent by region in September. US GDP rose to 4.6%
annualised whilst investors fretted over weakening Eurozone
economic trends and further softness in Asian economies. The ECB
cut rates deeper into negative territory and announced various
liquidity measures as speculation grew over the timing of US and UK
rate rises. Perversely, markets followed central banks' policy
rather than economic trends. Thus European and Japanese equities
were positive as the S&P fell on the month. Credit spreads also
widened but with Europe again performing better than the US.
Emerging markets and commodities fell heavily as worries over US
rates and global growth impacted negatively.
"BlueMatrix successfully navigated the difficult equity market
conditions"
Four of the seven strategies were positive in September.
BlueMatrix was the strongest performing fund with BlueCrest Multi
Strategy Credit and BlueTrend the largest detractors.
BlueMatrix, one of AllBlue's largest allocations, successfully
navigated the occasionally difficult equity market conditions. All
regions produced positive performance and all signal sets were
positive aside from traditional signals in North America. The fund
entered October with its largest long position being to IT and the
largest short to industrials. BlueCrest Equity Strategies also
produced a positive return of 0.8% for the month despite equity
markets being generally lower. Its event driven strategy performed
strongly on both deal activity and technical positioning around the
quarter end.
The fall in BlueTrend was driven primarily by bonds and
equities, both of which entered September with a long bias. Those
long positions were trimmed during the month but not quickly enough
to avoid losses. By contrast, all three commodity sectors generated
strong returns as crops, metals and energies saw sharp price falls.
The model entered October with shorts to crops and metals
maintained. Risk levels in general were reduced during September
with the month end VaR down to 1.2%.
The AllBlue Allocation Committee increased to exposure to
BlueCrest Equity Strategies for October by 1.5% to 10% with the
reduction coming from BlueCrest Emerging Markets which has been
reduced to 10.5%.
"BlueCrest announced the spin-off of the systematic
business"
BlueCrest recently announced the spin-off of the management of
the systematic business into a new investment manager, Systematica
Investments, from the beginning of 2015, subject to regulatory
approvals. Systematica will be led by Leda Braga, Head of
Systematic Trading at BlueCrest. For AllBlue, this will impact only
BlueTrend as BlueCrest will continue to manage AllBlue's exposure
to quantitative equity trading under the continuing leadership of
Frank Fehle. BlueCrest have stated that close ties will continue
between the two managers and AllBlue will continue to allocate to
BlueTrend. The board of BCAB have held detailed discussions with
BlueCrest about possible implications of the changes and are
satisfied that the proposed changes will have little impact on
AllBlue.
PERIODIC PERFORMANCE AND OTHER INFORMATION
GBP Share EUR Share USD Share
Class Class Class
------------------------------------ ----------------- ----------------- -----------------
MTD NAV 0.20% 0.16% 0.16%
------------------------------------ ----------------- ----------------- -----------------
YTD NAV 6.00% 5.80% 5.82%
------------------------------------ ----------------- ----------------- -----------------
Rolling 12 m NAV 9.04% 8.90% 8.94%
------------------------------------ ----------------- ----------------- -----------------
Rolling 12 m Share price 8.43% 6.91% 5.90%
------------------------------------ ----------------- ----------------- -----------------
Since inception NAV 97.48% 90.16% 88.56%
------------------------------------ ----------------- ----------------- -----------------
Since inception NAV annualised 8.48% 7.99% 7.88%
------------------------------------ ----------------- ----------------- -----------------
Premium/discount -3.79% -2.55% -4.19%
------------------------------------ ----------------- ----------------- -----------------
ISIN GB00B13YVW48 GB00B13YXC81 GB00B13YXH37
------------------------------------ ----------------- ----------------- -----------------
Bloomberg ticker BABS LN BABE LN BABU LN
------------------------------------ ----------------- ----------------- -----------------
Disclaimer:
This document is directed only at: (i) persons having
professional experience in matters relating to investments who fall
within the definition of "investment professionals" in Article
19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005; or (ii) high net worth bodies corporate,
unincorporated associations and partnerships and trustees of high
value trusts as described in Article 49(2) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005 and
persons who receive this document who do not fall within (i) or
(ii) above should not rely on or act upon this document.
This document is issued by BlueCrest AllBlue Fund Limited (the
"Company") to and for the information of its existing shareholders
and does not in any jurisdiction constitute investment advice or an
invitation to invest in the shares or any other securities of the
Company or any other entity (body corporate or otherwise).
The Company has used reasonable care to ensure that the
information included in this document is accurate at the date of
its issue, but does not undertake to update or revise the
information, including any information relating to AllBlue Limited
and its underlying funds (the "Funds") provided by BlueCrest
Capital Management (UK) LLP or any member of the BlueCrest group of
companies (as applicable) ("BlueCrest"), or guarantee the accuracy
of such information. To the extent permitted by law neither the
Company, the Funds, BlueCrest nor their directors or officers shall
be liable for any loss or damage that anyone may suffer in reliance
on such information.
The information in this document may be changed by the Company
at any time. Past performance cannot be relied on as a guide to
future performance. The Company's investment strategy is
speculative and entails substantial risks. The value of an
investment may go down as well as up and some or all of the total
amount invested may be lost. This document may not, in whole or in
part, directly or indirectly, be taken, transmitted or distributed
into the United States of America, its territories or possessions
or made available to any national, resident or citizen of the
United States of America or any other jurisdiction where applicable
laws prohibit its release, distribution or publication. Any failure
to comply with these restrictions may be a violation of the law in
relevant jurisdictions.
For further information about this announcement contact:
JTC (Guernsey) Limited Tel: +44 (0) 1481 702 400
Secretary
E&OE - in transmission
This information is provided by RNS
The company news service from the London Stock Exchange
END
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