BlueCrest AllBlue Fund Ltd Performance Update (7862V)
17 Décembre 2013 - 5:45PM
UK Regulatory
TIDMBABS TIDMBABE TIDMBABU
RNS Number : 7862V
BlueCrest AllBlue Fund Ltd
17 December 2013
FOR IMMEDIATE RELEASE
17 December 2013
BLUECREST ALLBLUE FUND LIMITED (THE "COMPANY")
MONTHLY PERFORMANCE REVIEW FOR NOVEMBER 2013
"Building on the strong gains of October"
Building on the strong gains of October, BlueCrest AllBlue Fund
Limited (BCAB) rose by 0.6% in November, bringing the return for
the year to date to +1.6%. The rolling 12 month return remains at
+2.7% (Sterling Class NAV). Risk, measured by annualised
volatility, was stable at 4.0%.
The overwhelming driver for most markets in November was
speculation over the timing of tapering by the US Federal Reserve.
Each economic statistic was picked over in this light and, given
the generally stronger tone of US economic data, expectations that
tapering would commence in December have increased. This put
pressure on the bond markets, many commodities and the emerging
markets, although US, Japanese and European equities were generally
positive.
"All 6 funds generated positive returns"
Once again, all 6 funds generated positive returns in November
with BlueMatrix and BlueCrest Multi-Strategy Credit performing most
strongly.
Credit spreads generally tightened further in November and most
strategies in BlueCrest Multi-Strategy Credit generated gains given
supportive trading conditions. Profits were well diversified but
tapering worries meant that there was less momentum in the credit
markets than of late. The fund produced a return of just under 1%
for November and remains with a long bias. However, the
vulnerability of the market to a reversal is growing and so there
are now a larger number of selective shorts across all books.
Emerging markets saw continued bouts of selling pressure in most
asset classes and so BlueCrest Emerging Markets did well to make
positive returns in such a challenging environment. In Asia the
short bias to regional currencies performed well as did relative
value trading. In Latin America profits came from Mexico as well as
from Brazil, where the fund was correctly positioned for the 50bps
hike in interest rates made during the month. Going into December,
the Emerging Markets fund now has an increasing long bias to short
dated rates and to credit given the expected performance in the
near term.
BlueMatrix has continued to build on its strong performance in
recent months and the AllBlue Allocation Committee reduced
BlueCrest Emerging Markets by 1.0% to 19% for December with this
allocated to BlueMatrix, bringing its allocation to nearly 16%.
"Renewed buying interest by end investors"
The discount of BCAB's share price to NAV has narrowed over the
past month and, at the time of writing, stands at around 3% in the
Sterling class. There has been only limited need for buy back
activity by the board given renewed buying interest by end
investors. At the beginning of December BCAB's administrator, Anson
Fund Managers, was acquired by JTC Group. The board understands
that there are no changes to the administrator's personnel or
procedures as they impact BCAB.
PERIODIC PERFORMANCE AND OTHER INFORMATION
GBP Share EUR Share USD Share
Class Class Class
-------------------------------- ------------- ------------- -------------
MTD NAV 0.57% 0.56% 0.57%
-------------------------------- ------------- ------------- -------------
YTD NAV 1.57% 1.59% 1.70%
-------------------------------- ------------- ------------- -------------
Rolling 12 m NAV 2.66% 2.57% 2.69%
-------------------------------- ------------- ------------- -------------
Rolling 12 m Share price 4.62% 4.38% 4.25%
-------------------------------- ------------- ------------- -------------
Since inception NAV 85.79% 79.29% 77.74%
-------------------------------- ------------- ------------- -------------
Since inception NAV annualised 8.58% 8.07% 7.94%
-------------------------------- ------------- ------------- -------------
Premium/discount -4.54% -5.39% -5.26%
-------------------------------- ------------- ------------- -------------
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.
JTC Fund Managers (Guernsey) Limited
Secretary
Tel: Guernsey 01481 702400
END OF ANNOUNCEMENT
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