27th Aug 2015 14:11
LONDON (Alliance News) - BlueCrest AllBlue Fund Ltd Thursday reported a rise in net asset value in the first half of 2015, although it said it was disappointing in comparison to the prior year as it was hit by volatile financial markets.
BlueCrest AllBlue said its NAV per share rose 0.8% in the six months to June 30, but said that the "modest gain" was a disappointment after the "good returns of 2014". It said that performance was hit by the financial crisis in Greece, geo-political risk in Russia and the Middle East, and a waning Chinese economic momentum.
"We are all aware that in order to remain an attractive investment, the company must not only exhibit tight risk controls and diversification benefits in portfolios but must also generate attractive returns. As always, your board is persistent in challenging BlueCrest constructively in relation to the performance, portfolio management and risk profile of AllBlue," Chairman Richard Crowder said in a statement, referring to the fund's investment manager.
"BlueCrest notes that market conditions were not as fruitful in the last six months as in the past but the increasing volatility of fixed income markets is beginning to generate good opportunities for the company," he added.
Shares in BlueCrest AllBlue were trading down 0.5% at 189.00 pence Thursday afternoon.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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