This communication is issued by BlueCrest Capital Management Limited (“BCML”), general partner to BlueCrest Capital Management LP. BCML is authorised and regulated by the Financial Services Authority of the United Kingdom (“FSA”). This communication constitutes a financial promotion for the purposes of the Financial Services and Markets Act 2000 (the “Act”) and the handbook of rules and guidance issued from time to time by the FSA (the "FSA Rules"). BlueCrest Capital Management Limited is registered with the US Securities Exchange Commission (SEC) as an investment advisor under the Investment Advisors Act of 1940.
The information contained herein is directed exclusively at persons who are professional clients or eligible counterparties for the purposes of the FSA Rules, or to Qualified Purchasers, as defined in the Investment Company Act of 1940, as amended. Any of the funds described herein (each a “Fund”) and other investments and investment services to which this communication relates are only available to the persons referred to above and other persons should not act or rely on the information contained herein.
The information contained herein is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any retransmission, dissemination or other unauthorised use of this information by any person or entity is strictly prohibited. If you have received this communication in error, please contact the sender immediately and delete this material in its entirety.
This material is not intended to constitute, and should not be construed as, investment advice. Potential investors in the Funds should seek their own independent financial advice. BCML neither provides investment advice to, nor receives and transmits orders from, investors in the Funds nor does it carry on any other activities with or for such investors that constitute "MiFID or equivalent third country business" for the purposes of the FSA Rules.
This communication has been provided to you for informational purposes only and may not be relied upon by you in evaluating the merits of investing in any securities or interests referred to herein. This communication is not intended as and is not to be taken as an offer or solicitation with respect to the purchase or sale of any security or interest, nor does it constitute an offer or solicitation in any jurisdiction, including those in which such an offer or solicitation is not authorised or to any person to whom it is unlawful to make such a solicitation or offer. Any decision to purchase securities or interests with respect to any of the Funds described herein must be based solely upon the information contained in the Prospectus or Private Placement Memorandum for that Fund, including any supplements thereto, which must be received and reviewed prior to any investment decision. Any person subscribing for an investment must be able to bear the risks involved and must meet the suitability requirements relating to such investments. Some or all or alternative investment programs may not be suitable for certain investors.
Certain of the performance results provided herein were not achieved from the actual management of the Fund, but are instead simulated results achieved by means of the retroactive application of the adviser’s investment methodology. This approach has inherent limitations, including that results may not reflect the impact that material economic and market factors might have had on the adviser’s decision-making if the adviser actually had been managing client money.
Although the information in this document is believed to be materially correct, no representation or warranty is given as to the accuracy of any of the information provided. Certain information included in this presentation is based on information obtained from sources considered to be reliable. However, any projections or analysis provided to assist the recipient of this presentation in evaluating the matters described herein may be based on subjective assessments and assumptions and may use one among alternative methodologies that produce different results. Accordingly, any projections or analysis should not be viewed as factual and should not be relied upon as an accurate prediction of future results. Furthermore, to the extent permitted by law, neither the Funds nor any of their agents, service providers or professional advisers assumes any liability or responsibility nor owes any duty of care for any consequences of any person acting or refraining to act in reliance on the information contained in this statement or for any decision based on it.
Past performance is not necessarily indicative of future results. The actual performance realised by any given investor will depend on, amongst other things, the Fund invested into, the class of shares/interests subscribed for, the period during which such shares/interests are held and in what currency such shares/interests are held. This document may include returns for various indices. These indices are not intended to be direct benchmarks for BlueCrest-managed funds, nor are they intended to be indicative of the type of assets in which a BlueCrest-managed fund may invest. The assets invested in by BlueCrest-managed funds will likely be materially different than the assets underlying these indices, and will likely have a significantly different risk profile. Target returns, volatility and Sharpe ratio figures quoted are targets only and are based over the long term on the performance projections of the investment strategy and market interest rates at time of modeling and therefore may change.
Among the risks we wish to call to the particular attention of prospective investors are the following: (1) Each Fund's investment programme is speculative in nature and entails substantial risks; (2) The investments of each Fund may be subject to sudden and large falls in price or value and there could be a large loss upon realisation of a holder’s investment, which could equal the total amount invested; (3) As there is no recognised market for many of the investments of the Funds, it may be difficult or impossible for a Fund to obtain complete and/or reliable information about the value of such investments or the extent of the risks to which such investments are exposed; (4) The Funds are dependent upon the services of key personnel, and if certain or all of them become unavailable, the Funds may prematurely terminate; (5) An investment in a Fund is illiquid; there is no secondary market for interests in a Fund; (6) There are restrictions on transferring interests in a Fund; (7) BCML will receive performance-based compensation, which may result in riskier investments; (8) The Funds are subject to certain conflicts of interest; (9) Certain securities and instruments in which Funds may invest can be highly volatile; and (10) The Funds may be leveraged.
Changes in rates of exchange may also have an adverse effect on the value, price or income of the investments of each Fund.