BlueCrest Abandons UCITS Version Of Flagship

Oct 28 2010 | 4:20am ET

BlueCrest Capital Management will shutter the largest UCITS III-compliant hedge fund product, not because of poor performance, but because the structure was failing to track its flagship hedge fund.

The $630 million BlueTrend UCITS Fund will stop trading at the end of next month, the Financial Times reports. The popular fund must go, BlueCrest told investors yesterday, because it has failed to accurately track the $9 billion BlueTrend fund—and the disparity is likely to get worse.

"It is anticipated based on analysis by the investment manager, BlueCrest Capital Management LLP, that this tracking error may increase further in the economic conditions," the firm wrote.

Which is not to say that the fund has done badly since its debut at the beginning of last year. The UCITS version is up 11% this year.

But the restrictions imposed on UCITS funds have apparently prevented BlueCrest from matching the main BlueTrend fund's performance, and figured in the firm's decision to close the fund, according to the FT.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Often seen as a passion project, or part of a philanthropic venture, rare and fine stringed instruments offer an exciting option to diversify one’s investment portfolio while providing an opportunity for an exceptional long-term investment.