Bluecrest Allblue Fund seees strong returns thanks to uncertainties over Greece

18th Jun 2015 13:58

British investment group Bluecrest Allblue Fund has welcomed strongest returns coming from the short bias to European rates in May.May is usually a calmer month in the markets after the volatility of April, but European government bond markets continued to experience very choppy conditions.The company said good opportunities in terms of volatility in fixed interest markets remain thanks to uncertainties over Greece and a US rate hike.However, Bluecrest reduced its allocation to its emerging markets division by 2% to 7%.Although the strategy resulted in strong returns in May, up 1.5%, the company said it is "increasingly cautious on emerging markets with distress observed in a number of markets and better opportunities in developed fixed interest".Furthermore, despite flat equity markets, its equity strategies division's revenues were up 2.1%.Shares were up 0.11% to 188.6p on Thursday at 14:34.