|BlueCrest Capital Management has recently announced its decision to liquidate the BlueCrest BlueTrend UCITS fund, which was launched just last year. According to the Financial Times, the $630 million hedge fund was an onshore version of BlueCrest’s successful BlueTrend hedge fund and was the largest UCITS hedge fund launch in the last 18 months. UCITS funds, which are required by European law to meet specific transparency and liquidity requirements and must adhere to a restricted list of investment opportunities, often have trouble matching the performance of less-regulated hedge funds. |
While demand for the BlueTrend UCITS fund has been high since its launch and the vehicle has already returned 11% this year, it has been unable to match the positive performance of the more successful BlueTrend hedge fund.
BlueCrest Capital Management is an alternative asset management company founded by Michael Platt and William Reeves in 2000. Man Group Holdings owns 25% of the firm, which is based in London and manages assets for institutions across a number of diversified strategies.