Statement re Performance Update

RNS Number : 1978F

BlueCrest AllBlue Fund Ltd

21 May 2013

 



FOR IMMEDIATE RELEASE

21 May 2013

BLUECREST ALLBLUE FUND LIMITED (THE "COMPANY")

MONTHLY PERFORMANCE REVIEW FOR APRIL 2013

"A strong performance in April"

BlueCrest AllBlue Fund Limited (BCAB) produced a strong performance in April rising by 1.3%, bringing the gain for the year to date to 3.2% (Sterling Class NAV).  Encouragingly the rolling 12 month NAV return has risen to 7.8%, yet volatility remains low and stable.  Once again, all 6 of the underlying funds gained during the month and all are positive year to date.

Macro economic events continued to dominate the headlines in April, particularly the on-going stimulus by the Bank of Japan.  This saw Japanese equities soar by nearly 12% in April and Yen fall further.  The Japanese stimulus also spurred other global equity markets higher.  However, away from Japan, recent economic data has been softer and this saw commodities, including gold, fall sharply on the month.  Bond markets were the beneficiary, with yields falling, including in the peripheral Eurozone bond markets where tensions subsided.

"Continued divergences of trends…once again benefited the systematic strategies"

These continued divergences of trends, whether by geography, sector or asset class, once again benefited the systematic strategies.  BlueTrend rose by 3% in April and BlueMatrix also had an excellent month - the recent increased allocations to both these systematic funds within AllBlue were helpful as a result.   BlueMatrix maintained a market neutral exposure and entered May with a bias to long financials and short basic materials.

Both BlueCrest Capital International and BlueCrest Emerging Markets had net long interest rate exposures which posted gains, but Emerging Markets had by far the better trading conditions and produced consistent returns across all strategies and all regions.  With a good economic outlook in many emerging economies, the fund had a modest long bias going into May.

BlueCrest Capital International and BlueCrest Mercantile both produced subdued returns and, whilst positive year to date, they have been the lowest contributors to AllBlue.

Stronger opportunities for the systematic funds prompted further increases in the allocations to BlueTrend and BlueMatrix for May, to 17.5% and 7.2% of AllBlue respectively, at the expense of BlueCrest Capital International and BlueCrest Mercantile.

Overall trading conditions remain positive and AllBlue has started May with further positive performance.

"The shares are back trading at a modest premium"

The Sterling share price rose strongly during April and early May and, at the date of writing, the shares are back trading at a modest premium.  The Company repurchased a small number of shares in early April whilst still at a discount.

Continuation resolutions were proposed at Class meetings on 17th April and the Sterling and Euro Class votes were passed.  The Dollar Class vote did not pass and as a result proposals have been put to Dollar Class shareholders in accordance with the Articles, the results of which will be known later in May.  There is no impact from this on the Sterling or Euro shares.

PERIODIC PERFORMANCE AND OTHER INFORMATION

	GBP Share Class	EUR Share Class	USD Share Class
MTD NAV	1.28%	1.33%	1.34%
YTD NAV	3.23%	3.23%	3.25%
Rolling 12 m NAV	7.82%	7.26%	7.32%
Rolling 12 m Share price	11.34%	8.33%	11.00%
Since inception NAV	88.82%	82.19%	80.44%
Since inception NAV annualised	9.59%	9.03%	8.88%
Premium/discount	-3.57%	-3.67%	-3.13%
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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