BlueCrest AllBlue Fund Ltd Monthly Performance Review (4893Q)
18 Junio 2015 - 1:00AM
UK Regulatory
TIDMBABS TIDMBABU
RNS Number : 4893Q
BlueCrest AllBlue Fund Ltd
18 June 2015
FOR IMMEDIATE RELEASE
18 June 2015
BLUECREST ALLBLUE FUND LIMITED
MONTHLY PERFORMANCE REVIEW FOR MAY 2015
"Markets were generally calmer in May"
BlueCrest AllBlue Fund Limited (BCAB) rose by 0.7% in May
bringing the return for the year to date to 2.0% (Sterling Class
NAV). The rolling 12 month return was 5.2% and volatility remained
stable at 2.4%.
Markets were generally calmer in May after the volatility of
April, although European government bond markets continued to
experience very choppy conditions as Bund yields rose and the
protracted Greek negotiations dragged on. Economic data in the US
and China were generally softer than expected, although European
economies continued to expand modestly. There were no meaningful
announcements on monetary policy other than the ECB indicated that
it may front-load bond purchases ahead of the summer.
"The return of fixed income volatility proved fruitful"
Six of the seven strategies produced positive returns in May
with BlueTrend the only detractor. BlueCrest Capital International
once again performed well, up 1.1% for the month, as trading
opportunities improved further in fixed income markets. Gains were
seen in all regions with the strongest returns coming from the
short bias to European rates. The return of volatility to fixed
interest markets has once again provided fruitful scope for profits
in the fund. With the uncertainties over Greece and a US rate hike
combining with thin summer markets, good opportunities remain.
AllBlue's allocation to BlueCrest Capital International has been
increased further, by 1.5%, for June to 12.7%. An additional
increase is likely in the coming months.
By contrast, the allocation to BlueCrest Emerging Markets has
been reduced by 2.0% to 7.0%. The fund generated a good performance
in May, up 1.5%, with a strong performance across all regions and
most strategies, even as the broad emerging markets universe fell.
Latin America saw the strongest performance with particularly
strong gains from corporate credit and rates in the region.
However, BlueCrest are increasingly cautious on emerging markets
with distress observed in a number of markets and better
opportunities in developed fixed interest.
BlueCrest Equity Strategies saw the balance of the allocation
changes for June with an increase of 0.5% to bring its allocation
in AllBlue to 14.0%. BlueCrest Equity Strategies also had a strong
month in May, up 2.1%, despite generally flat equity markets.
Long-short trading generated the best performance with gains around
corporate actions and earnings announcements adding to
sector-trading gains, most particularly in financials.
A fee change is being implemented on BlueCrest Mercantile Fund
whereby the management fee is being reduced from 2% to 1.5% with
effect from 1st June. The performance fee remains at 20%.
"The board is delighted to welcome Sarita Keen as a
director"
The board is delighted to welcome Sarita Keen as a director of
BCAB with effect from 3rd June. Sarita has over 25 years experience
in the fund services industry in Guernsey and we look forward to
introducing her to shareholders in the coming months.
The BCAB share price has been relatively stable to NAV during
the month with regular investor buying seen around the 5% discount
level. As a result the buyback programme operated infrequently
during the month. On 11th June the Company was notified that
BlueCrest related entities now hold over 5% of shares in the
Company.
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.
JTC (Guernsey) Limited
Secretary
Tel: Guernsey 01481 702400
END OF ANNOUNCEMENT
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