BlueCrest to shut BlueTrend UCITS fund on tracking error fears

Wed Oct 27, 2010

Read more:



BlueCrest is planning to shut down the $600 million UCITS version of its multi-billion dollar BlueTrend systematic trading CTA strategy because of fears that the tracking error between the onshore version of the strategy and the original offshore version is about to exceed its maximum permitted level


The BlueTrend UCITS Fund, which is managed by BlueCrest and which is on the Bank of America Merrill Lynch UCITS platform, is expected to close at the end of November - according to a letter sent to investors.

The tracking error of the UCITS fund compared to the original Cayman offshore version of the fund, which has $10.2 billion of assets under management, is expected to be a maximum of 3.5%. So far the UCITS fund has performed broadly in line with the expectations that...

ISSN: 2151-1845 / CDC10004H

TAKE A FREE TRIAL

The full contents of this article are available to active Absolute UCITS subscribers and trialists only.

To continue reading please,
take a free trial or subscribe to Absolute UCITS.

Subscribe

Subscribers have unlimited access to all current content, including UCITS fund performance Live League Tables. Start your subscription today - click on the button below.

Subscribe now