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BlueCrest to become PIP

01 December 2015 13:40

BlueCrest Capital Management - BlueCrest AllBlue Fund's investment manager - is returning the capital managed in the suite of funds to investors and will not accept any further investment subscriptions from third party investors.

Following the completion of this process, BlueCrest will become a 'private investment partnership', focussing solely on the management of the assets of its partners and employees.

It says: "We would like to thank all of our investors who have supported us over the last 15 years and are pleased that, as we make this decision, all of the current BlueCrest funds are at, or close to, their 'high water mark'.

"Recent developments in the industry, including, among other things, downward pressure on fee levels, the increasing cost of hiring the best portfolio management talent and the difficulty in tailoring investment products to meet the individual needs and constraints of a large number of diverse investors, have all significantly reduced industry profitability and flexibility.

"These factors have affected BlueCrest along with many other industry participants, and BlueCrest believes that a transition to a Private Investment Partnership model is now appropriate for the business."

At 1:40pm:

(LON:BABS) Bluecrest Allblue Fund GBP share price was +6.8p at 198.2p

(LON:BABU) Bluecrest Allblue Fund Ltd share price was +0.05p at 1.86p

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