HTCF.L Regulatory News (HTCF)

FOR IMMEDIATE RELEASE

21 August 2015

FACTSHEET - JULY 2015

"Strong gains despite mixed market conditions"

BlueCrest AllBlue Fund Limited (BCAB) produced strong gains in July, despite mixed market conditions. BCAB returned 1.8% for the month which brings the year to date return to 2.7% (Sterling Class NAV). The rolling 12 month return was 4.7% and risk measures remained stable.

Markets continued to see volatility. Political resolutions in Greece and Iran were overshadowed by a further slump in the Chinese equity market. Economic data was also mixed with generally better data in developed economies offset by worries over Chinese growth and the knock-on effects on commodity prices and other developing economies.

"The strongest gains came from systematic funds"

All 7 underlying funds rose in July but the strongest gains came from the systematic funds. BlueTrend 2x rose by over 12% (AllBlue now has 5.5% exposure to the 2x leveraged version of BlueTrend) and BlueCrest Quantitative Equity rose by 2.6%.

BlueTrend's gains came as more pronounced trends reasserted themselves in markets in July. Particularly strong returns were generated by metals, energy and foreign exchange exposures. Risk levels deployed rose slightly and the model shifted to a net long position in equities during the month and a net short to crops. In other markets, the fund ended the month net long the dollar, fixed income and rates with short positions in metals and energy.

BlueCrest Capital International also enjoyed good returns, gaining 1.2% in July. Conditions in developed fixed income markets are increasingly more fruitful and the fund saw particular gains from European trading and cross market strategies. In Europe, the long bias to the short end of the Eurozone was profitable as were the long exposures to Swedish and Swiss rates. All benefited from a "lower for longer" orientation. The allocation committee increased the exposure to BlueCrest Capital International by a further 2% for August to 19%, with a consequent reduction in BlueCrest Quantitative Equity.

Despite a treacherous environment in the emerging markets, BlueCrest Emerging Markets Fund recorded a small gain of 0.3% for the month. Conditions, particularly liquidity conditions, were challenging and China dominated sentiment across Asia and into other emerging markets as commodity markets slumped. The fund gained from the China related volatility and also from pricing recovery in CEMEA as the Greek package was finalised.

"James Dean appointed to the AllBlue Allocation Committee"

James Dean has been appointed to the AllBlue Allocation Committee in place of Matt Weir. Matt is leaving BlueCrest and James is assuming his role as Chief Risk Officer, having been with BlueCrest for 10 years, the last 5 of which have been in the risk department. No changes to controls or processes are occurring.

BCAB undertook more repurchases of shares in the market during July as the discount edged out beyond 5%.

Disclaimer:

This document is directed only at: (i) persons having professional experience in matters relating to investments who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005; or (ii) high net worth bodies corporate, unincorporated associations and partnerships and trustees of high value trusts as described in Article 49(2) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 and persons who receive this document who do not fall within (i) or (ii) above should not rely on or act upon this document.

This document is issued by BlueCrest AllBlue Fund Limited (the "Company") to and for the information of its existing shareholders and does not in any jurisdiction constitute investment advice or an invitation to invest in the shares or any other securities of the Company or any other entity (body corporate or otherwise).

The Company has used reasonable care to ensure that the information included in this document is accurate at the date of its issue, but does not undertake to update or revise the information, including any information relating to AllBlue Limited and its underlying funds (the "Funds") provided by BlueCrest Capital Management (UK) LLP or any member of the BlueCrest group of companies (as applicable) ("BlueCrest"), or guarantee the accuracy of such information. To the extent permitted by law neither the Company, the Funds, BlueCrest nor their directors or officers shall be liable for any loss or damage that anyone may suffer in reliance on such information.

The information in this document may be changed by the Company at any time. Past performance cannot be relied on as a guide to future performance. The Company's investment strategy is speculative and entails substantial risks. The value of an investment may go down as well as up and some or all of the total amount invested may be lost. This document may not, in whole or in part, directly or indirectly, be taken, transmitted or distributed into the United States of America, its territories or possessions or made available to any national, resident or citizen of the United States of America or any other jurisdiction where applicable laws prohibit its release, distribution or publication. Any failure to comply with these restrictions may be a violation of the law in relevant jurisdictions.

JTC (Guernsey) Limited

Secretary

Tel: Guernsey 01481 702400

END OF ANNOUNCEMENT

E&OE - in transmission