BlueCrest AllBlue Fund Ltd Monthly Performance Update (5682T)
21 July 2015 - 4:00PM
UK Regulatory
TIDMBABS TIDMBABU
RNS Number : 5682T
BlueCrest AllBlue Fund Ltd
21 July 2015
FOR IMMEDIATE RELEASE
20 July 2015
BLUECREST ALLBLUE FUND LIMITED
FACTSHEET - JUNE 2015
"Political events created a volatile market environment"
June saw volatile market conditions, prompted by political and
economic uncertainty, particularly in Europe and Asia. BlueCrest
AllBlue Fund Limited (BCAB) fell by 1.2% for the month which
reduces the year to date return to 0.8% (Sterling Class NAV). The
rolling 12 month return was 3.2%. Volatility rose modestly to
around 2.8% but remains well within normal historical levels.
A number of markets initially declined in June and a brief
recovery was then followed by further weakness at the end of the
month. Equity markets were broadly lower and credit spreads wider,
as government bond yields moved another step higher. Uncertainty
was fuelled by the twists and turns of Greece's protracted
negotiations with creditors as well as dramatic volatility in
China's equity markets.
"Further changes introduced to benefit AllBlue"
In June, BlueCrest Quantitative Equity and BlueCrest Mercantile
made positive contributions to AllBlue. Other underlying funds
detracted from performance however, led by BlueTrend.
BlueCrest Quantitative Equity provided a positive contribution
as two out of the three regional portfolios produced gains over the
month. The majority of returns were generated in Europe, with a
smaller contribution from North America; the Asia Pacific & EM
portfolio unfortunately detracted from gains. Each of the signal
families made a modest positive contribution, with more traditional
signals working well in Europe and North America. In Asia Pacific
& EM, the fund's more proprietary signals detracted.
BlueTrend had a very challenging month, with losses spread
across most sectors in choppy market conditions where few trends
persisted. Losses were led by the Equities sector followed by the
Bonds, FX and Crops sectors. Within the Equities sector BlueTrend
reduced its net long exposure and then turned short by month end. A
long bias was maintained to the USD within the FX sector, although
exposure was significantly reduced during the period. Having held a
short bias in Crops for most of the year, the strategy switched to
a small net long bias by the end of June. Exposure in Energies and
Metals remained net short overall.
This month saw further changes implemented within AllBlue,
following the reduction in Mercantile's management fee mentioned
last month. AllBlue is now allocating to the BlueTrend 2x Leveraged
underlying fund to access the BlueTrend strategy. This change
allows for greater cash efficiency and results in extra "buying
power" that is reflected in the allocation changes made for July -
with increases made to four underlying strategies while BlueCrest
Multi Strategy Credit and BlueCrest Quantitative Equity were
reduced. A further change saw AllBlue change the share class used
to access BlueCrest Capital International to a new class with a 1%
management fee plus 25% performance fee from the previous 2% and
20% respectively.
"The share price has been well supported"
The BCAB share price has been well supported relative to the NAV
during June and there was only limited buyback activity as a
result.
The board made an announcement in mid-July regarding succession
planning which can be found on the Company's website,
www.bluecrestallblue.com.
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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