1 Apr 2010
The MLIS BlueTrend UCITS Fund has reached capacity with $600 million in assets and is soft closing to new investments, according to a release from Merrill Lynch which runs a leading platform for UCITS absolute return funds.
“We highlighted a couple of months ago that BlueCrest was considering halting new subscriptions into the BlueTrend CTA strategy,” Merril Lynch said. “This was as a result of the significant asset growth seen by the firm (both in the UCITS fund and the traditional offshore structure) in the past 18 months.” Overall, BlueTrend is running over $9 billion in several systematic strategies.
“We are continually speaking with BlueCrest on the issue of capacity. Should they feel that the strategy can take further assets without impacting on the investment returns of existing investors then we may see the fund re-open at some point in the future,” Merrill added. “There is no guarantee of this however.” The move will have no impact on redemptions and weekly liquidity remains in place.
“We highlighted a couple of months ago that BlueCrest was considering halting new subscriptions into the BlueTrend CTA strategy,” Merril Lynch said. “This was as a result of the significant asset growth seen by the firm (both in the UCITS fund and the traditional offshore structure) in the past 18 months.” Overall, BlueTrend is running over $9 billion in several systematic strategies.
“We are continually speaking with BlueCrest on the issue of capacity. Should they feel that the strategy can take further assets without impacting on the investment returns of existing investors then we may see the fund re-open at some point in the future,” Merrill added. “There is no guarantee of this however.” The move will have no impact on redemptions and weekly liquidity remains in place.
