BlueCrest Capital Management and Merrill Lynch have announced the launch of the BlueTrend Ucits Fund, a Ucits compliant version of the trend-following BlueTrend CTA strategy run by Blue
BlueCrest Capital Management and Merrill Lynch have announced the launch of the BlueTrend Ucits Fund, a Ucits compliant version of the trend-following BlueTrend CTA strategy run by BlueCrest since April 2004.
BlueCrest has been appointed as the investment manager to the fund with Merrill Lynch International acting as sponsor. The BlueTrend Ucits Fund is part of Merrill Lynch’s Ucits compliant Luxembourg Sicav, Merrill Lynch Investment Solutions.
BlueTrend CTA strategy is a systematic, diversified trend-following programme with approximately USD7bn under management and trading 150+ markets around the globe on a 24-hour cycle. The investment team combines model development, technology and execution functions and will leverage BlueCrest’s expertise to achieve a competitive edge in the sector. BlueTrend Ucits Fund has a return objective of 15-20 per cent per annum and a Sharpe Ratio objective of 1+.
BlueTrend Ucits Fund is a regulated, Luxembourg onshore vehicle, with protection for investors through the Ucits framework of rigorous risk, diversification, counterparty exposure, liquidity and eligible asset constraints. Processes relating to the running of the fund, including matters such as risk management, independent oversight and protection of assets, have been approved by the Luxembourg regulator.
The fund is available for sale to institutional and retail investors in UK, Ireland, France, Germany, Italy and Spain with minimum investment size for the retail share classes of USD1,000. The fund is not for sale to US persons.
The BlueTrend UCITS fund is the second fund to be established on Merrill Lynch Investment Solutions and the first CTA therein.
Leda Braga, president of BlueCrest (pictured), says: ‘We are excited to be able to expand the access to our BlueTrend strategy through a first class Ucits platform. BlueTrend Ucits provides an opportunity for a wider variety of investors to benefit from the transparency and solid investment proposition of the CTA space.’
Eric Personne, EMEA head of fund solutions group at Merrill Lynch, adds: ‘We are delighted to partner with talented managers such as BlueCrest on our Ucits platform. Investors can now, for the first time, access the performance of the award-winning BlueTrend strategy, through the robust, transparent framework of the Ucits legislation. This is an exciting evolution for the industry.’