BlueCrest AllBlue Fund Ltd Non Mainstream Pooled Investments (6434W)
31 Décembre 2013 - 11:15AM
UK Regulatory
TIDMBABS TIDMBABE TIDMBABU
RNS Number : 6434W
BlueCrest AllBlue Fund Ltd
31 December 2013
BlueCrest AllBlue Fund Limited (the "Company")
31 December 2013
Non Mainstream Pooled Investments: Suitability for Retail
Distribution
The Board notes the proposed changes to the Financial Conduct
Authority ("FCA") rules relating to the restrictions on the retail
distribution of unregulated collective investment schemes and close
substitutes which will come into effect on 1 January 2014.
The Board has today taken all necessary steps to ensure that the
Company would be capable of qualifying as an investment trust if it
was resident in the UK. The steps taken involve the cancellation,
for an aggregate consideration of 10 pence, of 10 unlisted ordinary
shares which were issued as part of the original capital structure
of the Company but which are, as result of subsequent change of
law, now redundant. The Board will seek shareholder ratification of
the steps taken today at a general meeting to be convened in due
course.
As a result of these steps, the Board believes that the retail
distribution of its shares should be unaffected by the proposed
changes promulgated by the FCA, as these are currently drafted. It
is the intention of the Board that the Company will continue to be
operated going forward in such a manner as to ensure that the
shares are not categorised as non-mainstream pooled investments and
that, accordingly, the shares can continue to be recommended by
IFAs to ordinary retail investors in accordance with the FCA's
rules.
The Board is, however, aware that no formal guidance has yet
been issued by the FCA in relation to the application of these
rules to non-UK companies and that the rules may be subject to
further change. The Board will assess any future changes to the
rules as they arise and will communicate any further implications
for the Company and its securities via a subsequent RIS
announcement.
Enquiries:
JTC Fund Managers (Guernsey) Limited, Secretary
Tel: +44 (0) 1481 702 400
Jeffries Hoare Govett
Gary Gould: +44 20 7029 8000
END OF ANNOUNCEMENT
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