1 Twitter 2 Facebook 3RSS 4YouTube It isn’t a surprise that some hedge funds keep their best strategies to themselves, and it certainly hasn’t kept investors away. Never trust a South Florida money manager without an ex-wife and BMW. ... Convertible bonds/preferred and equities as part of a Convertible Arbitrage Strategy. Except when it is a surprise. BlueCrest Capital Management LLP ("BCM LLP") is an alternative asset management business based in Guernsey, managing significant institutional assets across a number of diversified strategies. In 2011, BlueCrest created a leveraged proprietary fund – BSMA – to trade the personal capital of its principals. You can view more information on Bluecrest Capital Management including private fund info, contact info, top management and executives, website, email addresses, and more below: BlueCrest Capital Management, once one of Europe’s largest hedge funds with $37 billion in assets under management at its peak, was the real … According to the SEC, BlueCrest Capital Management, based on the isle of Jersey, failed to disclose to investors the existence of a $1.5 billion hedge fund owned by executives, called BSMA Limited. If they’d just unfreeze those assets, his little bro would quickly get them back to his alleged victims, he’s pretty sure. In 2013 it expanded into trading equity to compete with Millennium Management LLC and SAC Capital Advisors LLP. Without admitting or denying the SEC’s findings, BlueCrest agreed to a cease-and-desist order imposing a censure, and must pay disgorgement and prejudgment interest of $132,714,506 and a penalty of $37,285,494, all of which will be returned to investors. The order finds that BlueCrest was able to keep more of any performance fees generated by the algorithm than by live traders. BlueCrest initially focused on trading interest rates and using computer algorithms to capture trends in bonds and commodities. U.S. SEC orders UK’s BlueCrest to pay $170 million to harmed investors, Hedge fund BlueCrest ordered to pay $170 million after ‘misleading’ investors, BlueCrest Capital Management to Pay $170 Million to Settle SEC Claims. U.S. SEC orders UK’s BlueCrest to pay $170 million to harmed investors [Reuters]Hedge fund BlueCrest ordered to pay $170 million after ‘misleading’ investors [MarketWatch]BlueCrest Capital Management to Pay $170 Million to Settle SEC Claims [WSJ]. BlueCrest Capital Management London–based BlueCrest Capital Management, founded by Michael Platt and William Reeves with $117 million in … Or one with them, apparently. This enables BlueCrest to capitalize and manage the complexities of the new OTC derivatives marketplace and address new front office, operating and connectivity issues while managing margin compressions and capital costs across business lines. The firm returned over 18% net of fees with all business units contributing to the fund’s gains, partner Rodrigo Rodriguez told Financial News in … Product Controller at BlueCrest Capital Management, LLP Greater New York City Area 274 connections. In 2015, Bluecrest announced its plans to return all outside capital to investors and transition into a private investment partnership that would manage money for its partners and employees. Bluecrest Capital Management LTD is a hedge fund with 27 clients and discretionary assets under management (AUM) of $86,644,351,099 (Form ADV from 2018-06-06). Michael Platt’s BlueCrest Capital Management pulled back from a complex debt-trading strategy that led to losses and the departures of at least two traders, people familiar with the matter said. STAY CONNECTED The Securities and Exchange Commission (SEC) alleged that in 2011 BlueCrest created the hedge fund to invest staff capital, to which it transferred top-performing traders from its flagship client fund. “BlueCrest repeatedly failed to act in the best interests of its investors, including by not disclosing that it was transferring its highest-performing traders to a fund that benefitted its own personnel to the detriment of its fund investors,” said Stephanie Avakian, Director of the SEC’s Division of Enforcement. “This settlement holds BlueCrest responsible for its conduct and furthers the SEC’s goal of returning funds to harmed investors.”, “An adviser’s disclosures to investors and prospective investors in funds they manage must be accurate,” said Adam Aderton, Co-Chief of the SEC’s Asset Management Unit. If you’ve got the good stuff, they’ve got the green. Bluecrest Capital Management serves clients internationally. That delay caused “slippage,” particularly during volatile markets because the algorithm waited too long to respond to sudden market moves, the order said. Their last reported 13F filing for Q3 2020 included $2,734,858,000 in managed 13F securities and … Washington D.C., Dec. 8, 2020 —. Winterflood Investment Trusts, the broker and analyst has released a research note on BlueCrest AllBlue, the fund-of-funds investment company that invests in the different hedge fund strategies of the BlueCrest hedge fund group. The SEC found that BlueCrest Capital Management misled clients over … But since that day is not today, BlueCrest is happy that it’s not in the business of managing money for people the SEC says it can’t lie to anymore. HM Revenue & Customs has been ordered to wrap up a seven-year investigation into the tax returns of 175 London partners at hedge fund BlueCrest Capital Management. BlueCrest failed to adequately disclose, and made misstatements and omitted facts concerning, the proprietary fund’s existence, the movement of traders, and related conflicts of interest, the SEC alleged. Then it can both drive investors away, and cause all sorts of other problems, as well, because even if Michael Platt tried to pass it all off as a joke, the Securities and Exchange Commission is not laughing. The SEC’s order finds that BlueCrest willfully violated antifraud provisions of the Securities Act of 1933 and Investment Advisers Act of 1940 as well as the Advisers Act’s compliance rule. “BlueCrest investors were marketed a fund with exceptional trading talent but instead got a fund with an undisclosed algorithm that performed worse than those touted traders.”. According to the SEC’s order, BlueCrest created BSMA to trade the personal capital of BlueCrest personnel using primary trading strategies that overlapped with BCI’s. In its Order, the SEC found that BlueCrest created BSMA to trade the personal capital of its personnel using primary trading strategies that overlapped with BCI’s. The current minimum investment for Bluecrest Multi Strategy Credit Master Fund Limited is $1000000. Prior to founding their own fund, both … 5 Flickr 6LinkedIn 7 Pinterest 8 Email Updates. BlueCrest to pay $170m after replacing managers with faulty algo. The Enforcement Division appreciates the assistance of staff from the Office of Compliance Inspections and Examinations, including the Quantitative Analytics Unit, and the Division of Economic and Risk Analysis. Resource #2: BlueCrest Capital Management LLP (“BCMLLP”) is an alternative asset management company based in London, managing significant institutional assets across a number of diversified strategies. The fund generated returns of 50% in 2016, 54% in 2017, 25% in 2018 when the average hedge fund lost money, and 50% in 2019. The fund's latest filing disclosed 1BN in positions, representing 1% of the manager's regulatory AUM. The Securities and Exchange Commission (SEC) announced that U.K.-based investment adviser BlueCrest Capital Management Limited has agreed to pay US$ 170 million to settle charges arising from inadequate disclosures, material misstatements, and misleading omissions concerning its transfer of top traders from its flagship client fund, BlueCrest Capital International (BCI), to a … BlueCrest Capital Management to Pay $170 Million to Settle SEC Claims ... As you can guess, Warren Buffett’s #1 wealth building strategy is to generate high returns in the 20% to 30% range. Bluecrest Capital Management is a hedge fund that manages 110.8 BN dollars in regulatory AUM and has 0 employees, of which 0 perform investment advisory functions. The Guernsey based trust is structured as a feeder fund for the BlueCrest AllBlue based in the Cayman Islands. 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