AllBlue, the internal, closed end listed BlueCrest fund of funds, gained 1.99% for the six months to June.  
 
During the first half, BlueCrest Capital International, with its focus on interest rate trading, was the largest single contributor to the performance of AllBlue with a return of 2.64%. The fund, which is run by BlueCrest co-founder Mike Platt, held the highest allocation within the portfolio.
 

“Following a satisfactory year in 2010, the Company has continued to deliver positive financial performance during the first six months of 2011 despite challenging market conditions,” said Richard Crowder, the AllBlue chairman. “With an uncertain backdrop trading strategies have faced a challenging environment where markets have been driven by political factors, often resulting in severe dislocations. During this time BlueCrest has continued to focus on limiting downside risk and preserving investor capital, whilst taking advantage of trading opportunities that have presented themselves.”

 
Other strategies in the multi-manager fund generated the following returns: BlueTrend 1.88%; BlueCrest Multi Strategy Credit 2.74%; and BlueMatrix 3.32%. 
 
At 30 June the investment portfolio of AllBlue was allocated on the following basis amongst the underlying funds: BlueCrest Capital International 28%; BlueCrest Multi Strategy Credit 20%; BlueCrest Emerging Markets 19%; BlueTrend 16%; BlueCrest Mercantile 12%; BlueMatrix 3%; and BlueCube 2%.