BlueCrest AllBlue Fund posts 1.2% November return

18th Dec 2014 08:26

BlueCrest AllBlue Fund showed a strong monthly return of 1.2% in November, bringing year to date returns to 6.8%.The rolling 12-month return rose to 7.1%, with 12-month volatility stable and very low at just over 2%.The group said that market conditions were much more benign in November after October's volatility. Even though economic data was mixed, both bond and equity markets were positive. Gains were confined to developed markets, however, with emerging markets under pressure.BlueCrest emerging markets lost 0.01% in November against a backdrop of difficult market conditions in emerging market equities, debt and currencies. Oil prices have produced early divergences in performance between oil importers and exporters. Asia in particular incurred losses following the easing of Chinese monetary policy.It said conditions in emerging markets were likely to remain challenging, forcing the AllBlue allocation committee to reduce exposure to the BlueCrest emerging markets to 9% for December.Meanwhile, the fund's buyback programme has been active in the last few weeks with purchases in sterling and dollar share classes. To date, the programme has repurchased £65m of shares across both classes in 2014.