Dexion News
June 2010
BlueCrest AllBlue Fund Limited - Results of Issue
The Board of BlueCrest AllBlue Fund Limited (the “Company") is pleased to announce that applications have been received pursuant to the Issue for C Shares with an aggregate value of approximately £348.6 million (using prevailing exchange rates as at 4.30 p.m. London time on 17 June 2010), comprising £309.5 million in respect of Sterling C Shares, EUR8.1 million in respect of Euro C Shares and US$47.8 million in respect of US$ C Shares.
Richard Crowder, Chairman of the Company, said: “This is the Company’s largest fundraising to date and its success is a testament to the Company’s track record of excellent performance. We have been delighted with the demand from existing and new investors and BlueCrest remains confident that market conditions are propitious for the Company’s future success.”
RBS Hoare Govett Limited and Dexion Capital plc acted as joint bookrunners to the Issue. RBS Hoare Govett Limited also acted as sole sponsor and corporate broker to the Issue.
May 2010
Dextra to be a specialist knowledge powerhouse for boards
A NEW compliance and corporate governance service, that will support company secretaries and their boards, is launched today.
Dextra is a trading division of Dexion Capital (Guernsey) Limited and will provide independent reviews of corporate governance, compliance and regulatory matters, company secretarial and company administration services for clients requiring tailored, flexible and cost-effective solutions.
The new venture is headed up by Anne Ewing and Carol Kilby and supported by a dynamic team with over 50 years combined technical industry experience.
Mrs Ewing has extensive knowledge of the financial services industry across the banking, insurance, asset, and fund management and regulatory advisory sectors. She joined Dexion Capital (Guernsey) Limited as a director in November 2009 and is a Fellow of the Institute of Chartered Secretaries, a Fellow of the Chartered Securities Institute, an Associate of the Association of Corporate Treasurers and has an MSc in Corporate Governance.
‘We have established a knowledge powerhouse against a compliance and risk landscape that is constantly evolving. Enforcement and heightened supervision is coming to the fore as global regulatory standards converge,’ said Mrs Ewing, who has 25 years experience in the finance industry.
Mrs Kilby is a Fellow of the Association of Chartered Certified Accountants and has worked for 20 years in Guernsey’s finance industry including accounting, banking and risk compliance roles and most recently in the corporate secretarial function. She joined Dexion Capital (Guernsey) Limited as a Director in March 2007.
‘Dextra will provide additional, independent, company secretarial support in an environment in which today’s company secretary plays a central role in the governance and administration of a company’s affairs, acting as a key adviser to the Chairman and board. Another core service offered by the company will be assurance of compliance in support of clients’ regulatory responsibilities alongside reviews of compliance arrangements,’ she said.
Dextra has a thorough understanding of the exacting corporate disciplines required and can deliver services through outsourcing or co-sourcing, by augmenting a client’s existing internal resources.
Dextra is located at 1 Le Truchot, St Peter Port, Guernsey GY1 1WD
April 2010
BlueCrest AllBlue Fund Limited C-share Issue: Dexion Capital plc and RBS Hoare Govett Limited appointed as joint bookrunners
Further to the announcement by the Company, on 31 March 2010, of the proposals for a further issue of equity securities (the “Issue"), the Board is pleased to announce the appointment of RBS Hoare Govett Limited and Dexion Capital plc as joint bookrunners to the Issue. RBS Hoare Govett Limited has been appointed as sole sponsor to the Issue.
During 2009, the NAV of the sterling shares of the Company increased from £1.2525 to £1.5225, a return of 21.6%. Over the year, AllBlue Limited, the fund into which the Company invests, recorded twelve consecutive positive months of performance. The strong performance has continued in 2010 and as at 9 April 2010, the date of the latest estimated NAV, the Company’s sterling shares had returned 4.1%.
It is proposed that the Issue will be structured as a placing and offer for subscription of C shares in the Company. It is currently anticipated that a prospectus will be published by the Company in mid-May 2010 and that the placing and offer for subscription will close in mid-June 2010. A further announcement containing details of the Issue will be issued in due course.
September 2009
MAN Investments and Dexion Capital announce the launch of MAN AHL Diversity
A world leading trend follower available to UK investors via UCITS III
Man Investments, a world leading alternative asset manager, and Dexion Capital Group, one of the
UK’s leading hedge fund advisory and marketing firms, have announced the launch of a new
UCITS III trend following product, Man AHL Diversity.
The product will be managed by AHL, a division of Man Investments and one of the largest and
most consistently successful trend following managers. Trend followers – often known as managed
futures managers – seek to exploit persistent trends and other market inefficiencies in a systematic
way using highly liquid futures markets. Their funds are designed to perform whether prices trend
up or down with the result that returns tend to be uncorrelated with traditional stock
Link to the full press release
March 2009
Dexion Capital Launches Market Making
Alternatives marketing and advisory firm, Dexion Capital, today announced that it has launched its Market Making operations which will leverage off the Group’s existing distribution capabilities and research expertise.
Market making will be headed by Richard Crawford and Roy Martin. Richard brings over 20 years’ experience trading in the closed ended fund market for JP Morgan and Roy has also joined from the investment trust team at JP Morgan. The team will initially make markets in about 50 listed funds in the hedge fund sector. The launch of Market Making is part of Dexion Capital’s move to position itself as a full service provider to its investor client base in the primary and secondary markets.
Ana Haurie, managing director of Dexion Capital, said: “Over the past nine years Dexion Capital has gained a strong reputation and presence in the hedge fund sector as a marketing and advisory
specialist. Our extensive sales distribution network encompasses a significant proportion of banks, institutional asset managers and private client investment advisory firms within the UK and across Europe. We have seen significant growth in listed alternative investment funds in recent years and believe that investors are in need of specialist capital market coverage in this area. Supported by our network of market intelligence and expertise we believe that Dexion is ideally positioned to address this demand. The addition of an experienced Market Making team to our existing sales and analytical research capabilities enables us to gain a strong footing as a ‘first call’ niche provider in this sector.”
September 2008
Rebecca Donaldson appointed Head of Marketing Communications for Dexion Capital plc
Leading hedge fund marketing and advisory firm Dexion Capital Plc today announced that Rebecca Donaldson has joined the firm as Head of Marketing Communications.
Rebecca will be responsible for satisfying the evolving requirement amongst investors for comprehensive communications and for accessible and timely information regarding the Dexion product range.
Prior to joining Dexion, Rebecca was Head of Communications at International Asset Management Limited. She has over 18 years’ experience in marketing communications and education within asset management, including previous roles at UBS and GAM. Rebecca will be assisted by Allison Tater, who has been transferred internally to the role of Marketing Associate. Allison was previously in equity research at the Bank of America and has over 15 years of investment experience.
Ana Haurie, Dexion’s Group Managing Director, said: “We are delighted to have been able to attract someone of Rebecca’s calibre to Dexion at this important moment in our growth. Dexion as a group has long been characterised by its innovative response to investor requirements. These latest changes are a clear commitment to our belief in the importance of keeping in touch with our investors."