BlueCrest AllBlue Fund Limited (BABS.L) noted the announcement on 26 September by BlueCrest Capital Management Limited or "BlueCrest" in relation to the launch of Systematica Investments.
BlueCrest has today announced its intention to launch an independent firm, Systematica Investments, which will comprise its systematic investment management business, under the leadership and management of BlueCrest's current Head of Systematic Trading, Leda Braga.
The launch of Systematica is expected in January 2015, and the firm will initially have offices in Jersey, Geneva, New York, London and Singapore. BlueCrest will retain an economic interest in the business and the two organisations will continue to co-operate in areas of mutual benefit and where operating efficiencies can be achieved.
The investment objective of BlueCrest AllBlue Fund remains unchanged, which is to seek to provide consistent long-term capital growth through investment in AllBlue Limited , and the launch of Systematica is not expected to change AllBlue's investment allocation into a diversified portfolio of underlying funds.
It is envisaged that, at inception, the firm will have about 100 staff, including substantially all of the existing Systematic team at BlueCrest.
Subject to necessary approvals, Systematica will become the investment manager of the $8.3 billion BlueTrend programme in which AllBlue Limited has and will continue to have an allocation.
BlueCrest, which will continue to be led by CEO and founder Michael Platt, will focus primarily on discretionary trading strategies managed within its two flagship fund structures, BlueCrest Capital International and AllBlue, which have a combined AUM of $17.8 billion. BlueCrest will also continue to manage the quantitative equity strategy within AllBlue.
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