Bluecrest AllBlue Fund to benefit from US CDS litigation award

The FTSE 250-listed BlueCrest AllBlue Fund could receive some of the fund from a multi-million dollar award of US civil litigation matter regarding the pricing transparency of certain credit default swaps.

The fund, which is managed by BlueCrest Capital Management, said its funds will receive an award from this settlement, either directly or indirectly, and certain of these awards are expected to be significant.

Roughly 90% of the award, of roughly $90m, will go to the BlueCrest Multi Strategy Credit Master Fund, while the BlueCrest Capital International Master Fund will also receive a significant award of up to $6m.

AllBlue Limited could stand to gain up to approximately 1%, on a net basis, as a result of these developments.