Statement re Performance Update

RNS Number : 8892C

BlueCrest AllBlue Fund Ltd

22 April 2013

 



FOR IMMEDIATE RELEASE

22 April 2013

BLUECREST ALLBLUE FUND LIMITED (THE "COMPANY")

MONTHLY PERFORMANCE REVIEW FOR MARCH 2013

"Building on the gains of recent months"

BlueCrest AllBlue Fund Limited (BCAB) rose by 0.86% in March, building on the gains of recent months, and bringing the return for the year to date to 1.91% (Sterling Class NAV).  All 6 of the underlying funds gained during March and all 6 have produced positive returns so far this year.

Although events in Europe, particularly the botched Cypriot bail-out, continued to dominate the headlines, events elsewhere were of growing significance for markets, particularly Japanese reflation and ongoing economic recovery in the US.

"Regional factors are reasserting themselves and this is positive… for the fund's returns"

Indeed, 2013 has been marked by a change of tone - no longer are a few global events dominating all markets equally.  Increasingly, regional factors are reasserting themselves and this is positive for trading opportunities and the outlook for the fund's returns.  For instance, European equities fell in March but US equities were strong and Japanese markets soared.

This increased diversification and dispersion of returns was especially positive for BlueTrend, which produced strong gains of over 2% in the month.  BlueTrend saw gains across equities, bonds, FX and metals with strong returns from US and Asian equities in particular.  The other sectors detracted in the month.

BlueCrest Multi Strategy Credit also had a strong month, driven primarily by strategic long positions in US high yield retail, housing and financial sector bonds.  Short positions in European banks also benefited.

In BlueMatrix, the systematic equity fund, the recent model enhancements again bore fruit.

AllBlue's recently increased allocation to all three of these funds was beneficial to returns and it is pleasing that improving returns in AllBlue have not been accompanied by notably higher volatility.

A further increase of 1% has subsequently been made to the allocation to BlueMatrix, bringing the allocation to 6%, this reflects belief that regional and sector dispersion are creating attractive opportunities for the strategy.  This increase is funded via a reduction of 1% in BlueCrest Capital International.

Trading conditions remain positive for AllBlue, and April has started on a positive footing.

"The discount has stabilised"

The Sterling share price of BCAB was relatively stable over the month, the discount ending the month at -5.0%.  The Euro and Dollar share prices rose.  The company continued to buy back shares, purchasing around £3.3m worth during March.  The discount has stabilised at between 4% and 5% in the Sterling shares.  Continuation Vote resolutions for each class were placed before general meetings on 17th April 2013.  The votes in the Sterling and Euro Classes were passed but the Dollar Class resolution failed and, therefore, the Directors will present proposals to shareholders of the Dollar Class in accordance with the Articles.  There is no impact on Sterling or Euro Class shareholders.

PERIODIC PERFORMANCE AND OTHER INFORMATION

	GBP Share Class	EUR Share Class	USD Share Class
MTD NAV	0.86%	0.83%	0.84%
YTD NAV	1.91%	1.86%	1.87%
Rolling 12 m NAV	7.58%	6.95%	6.98%
Rolling 12 m Share price	8.34%	7.30%	8.17%
Since inception NAV	86.41%	79.76%	78.03%
Since inception NAV annualised	9.52%	8.94%	8.78%
Premium/discount	-5.01%	-3.11%	-3.41%
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.

Anson Fund Managers Limited

Secretary.

Tel: Guernsey 01481 722260

END OF ANNOUNCEMENT

E&OE - in transmission

 

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