Overview
Highbridge Tactical Credit Fund : HTCF (formerly Highbridge Multi-Strategy Fund Limited : HMSF and, before that Bluecrest AllBlue : BABS / BABU) invests substantially all of its assets in the Tactical Credit Fund managed by Highbridge Capital Management LLC.
Tactical Credit Fund is a multi-strategy credit fund that seeks to generate return from relative value and idiosyncratic opportunities. The fund launched in November 2013 and invests in six credit focused sub-strategies – Mid-Cap Convertible Credit, European Convertible Credit, Capital Structure Arbitrage, Event Credit, Income Investments and Distressed Credit & Reorganized Equities.
Highbridge Tactical Credit Fund : HTCF
Research History
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07 May 2020 4 min read
QuotedData’s Economic Roundup – May 2020
Economic & Political Roundup Kindly sponsored by Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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24 Jan 2020 20 min read
QuotedData’s Investment Companies Annual Review – 2019
In this issue The sector at the end of 2019 Performance data Performance by sector and fund Money in and out of the sector Money in and out of existing funds Money coming into existing funds Money going out of existing funds Liquidations, de-listings and trading cancellations Significant rating changes Major news stories Outlook for […]
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08 May 2019 4 min read
QuotedData’s economic roundup – May 2019
Economic & Political Roundup A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the […]
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12 Oct 2018 1 min read
QuotedData’s Economic round up – October 2018
QuotedData’s Economic round up – October 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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31 Jan 2017 1 min read
QuotedData – 2016 review of the year
Our review of 2016 includes performance data, significant moves in discounts and premiums, money raised and money handed back, major news stories and links to the research we have published including our guide to investment companies. 2016 Annual roundup
News
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19 Oct 2023 2 min read
QuotedData’s morning briefing 19 October 2023 – HTCF, RSE, ABD, PIN, AERI, ASLI, AEWU
In QuotedData’s morning briefing 19 October 2023: Highbridge Tactical Credit (HTCF) will compulsorily redeem almost all of its shares on 1 November 2023 and then go into liquidation. Round Hill Music (RHM) shareholders overwhelmingly approved the takeover by Concord Bidco. The shares will stop trading before the market opens on 31 October and shareholders should […]
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30 Mar 2023 2 min read
QuotedData’s morning briefing 30 March 2023
In QuotedData’s morning briefing 30 March 2023: RTW Venture Fund (RTW) was part of a consortium of funds managed by the same manager that participated in a $125m funding for Milestone Pharmaceuticals. Milestone is a publicly traded biopharmaceutical company, which is shepherding etripamil, its lead investigational product, through Phase 3 clinical trials for paroxysmal supraventricular […]
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16 Mar 2023 1 min read
QuotedData’s morning briefing 16 March 2023
In QuotedData’s morning briefing 16 March 2023: Highbridge Tactical Credit Fund (HTCF) recently received final distributions from Highbridge Multi Strategy Master Fund and Highbridge Tactical Credit Master Fund. There will now be a compulsory redemption of about 95% of the outstanding shares, made at the December 2022 NAV of £2.6368 per share. There will also […]
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08 Nov 2021 3 min read
QuotedData’s morning briefing 8 November 2021
In QuotedData’s morning briefing 8 November 2021: HICL Infrastructure (HICL) has acquired, indirectly, a 33.3% interest in Road Management Group, a holding company which comprises two UK shadow toll roads: the A417/A419 Swindon-Gloucester and the A1(M) Alconbury-Peterborough. The interest was acquired from Abertis Infraestructuras for a combined consideration of up to £34.4m. This investment will be funded by […]
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18 May 2021 1 min read
QuotedData’s morning briefing 18 May 2021
In QuotedData’s morning briefing 18 May 2021: Syncona highlights results from one of its holdings – Freeline. Its chief executive says they are encouraged by the progress seen in patient identification and screening in its FLT190 Phase 1/2 dose-finding trial for the treatment of Fabry disease; they are advancing their FLT201 programme for the treatment of Gaucher […]
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22 Apr 2021 2 min read
QuotedData’s morning briefing 22 April 2021
In QuotedData’s morning briefing 22 April 2021: Hammerson (HMSO) has further reduced its debt having exchanged unconditional contracts on the portfolio sale of its seven retail park assets to Brookfield for £330m cash proceeds. This represents an 8% discount to the 31 December 2020 book value of £357m and an 8.6% net initial yield. This transaction […]
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18 Dec 2020 2 min read
QuotedData’s morning briefing 18 December 2020
In QuotedData’s morning briefing 18 December 2020: Ecofin U.S. Renewables Infrastructure Trust has announced that its IPO has raised gross proceeds of $125 million. Commitments under the Placing and applications under the Offer for Subscription have been satisfied in full at the Issue Price of $1.00 per Ordinary Share. It is expected that Admission will become […]
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08 Jul 2019 1 min read
QuotedData’s other news 8 July 2019
In QuotedData’s other news 8 July 2019 Syncona (SYNC), a healthcare company focused on founding, building and funding global leaders in life science, has noted the announcement that its portfolio company, Freeline Therapeutics, has presented 52-week data from the first cohort of two patients in the ongoing B-AMAZE FLT180a Phase 1/2 trial in Haemophilia B at […]
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1 min read
Highbridge Multi-Strategy set for EGM to change investment policy
Highbridge Multi-Strategy set for EGM to change investment policy – The board of Highbridge Multi-Strategy (HMSF) has this morning announced that having completed its review of the options available to the company and consulted with the company’s major shareholders, it intends to convene an EGM to seek shareholder approval to change HMSF’s investment policy. Should […]
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16 Apr 2019 1 min read
Highbridge Multi-Strategy anticipating volatility spikes
Highbridge Multi-Strategy anticipating volatility spikes – Highbridge Multi-Strategy (HMSF), the UK-focused multi-strategy hedge fund, invests across several areas, including, equity, volatility and macroeconomic-based events. The trust today announced its annual results for the year to December 31, 2018, with total return NAV down 2.02% in sterling terms. Although they were disappointed not to deliver a […]
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05 Apr 2018 3 min read
Highbridge Multi Strategy edges ahead in 2017
Highbridge Multi Strategy edges ahead in 2017 – Highbridge Multi Strategy Fund generated a return of 3.7% on its NAV over the course of 2017. The total return of the S&P 500 in 2017 was +21.8%. This might look like an unexciting return but it is consistent with returns earned by most other absolute return […]
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05 Jan 2017 1 min read
Narrowing discount sees Highbridge Multi-Strategy press pause on quarterly tenders
Highbridge Multi-Strategy Fund has announced that, noting the reduction in the discount of the share price to NAV over the subsequent three months and also the recent stability of the discount at around 5%, the fund’s Board has canvassed the views of a number of larger Shareholders, a majority of whom have indicated that they […]
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28 Sep 2016 1 min read
Highbridge Multi-Strategy Fund expecting £24m in redemption proceeds
Highbridge Multi-Strategy Fund has announced that it has been notified by AllBlue Limited and AllBlue Leveraged Limited that further distributions of redemption proceeds were initiated this week. The company says that, as a result, it expects to receive proceeds equivalent to approximately £24 million by the 5 September 2016. The company says that, following receipt […]
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26 Sep 2016 1 min read
Highbridge Multi-Strategy Fund announces 20% cash tender
Highbridge Multi-Strategy Fund has published a circular in connection with a tender offer for the company. The board has the power to offer shareholders quarterly cash exits, at NAV less costs, and the first such tender offer is to take place in October 2016. The company expects that tendering Shareholders will receive most of the […]
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08 Mar 2016 1 min read
Highbridge Multi Strategy trading suspended
It appears that when BlueCrest AllBlue’s US dollar shares were converted into Sterling shares in advance of the switch of the fund to become Highbridge Multi Strategy Fund, they made a mistake calculating the conversion ratio. The company has asked that trading in its shares be suspended while they sort out the mess. HMSF : Highbridge […]
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22 Feb 2016 2 min read
BlueCrest holders to benefit from CDS litigation
BlueCrest Capital Management Limited has made a statement which we reproduce below: “CDS Settlement Dear Investor, We are writing to inform you of a positive development that we believe will affect the BlueCrest managed funds listed below. As you may have read in the press, there has been a recent settlement of a U.S. […]
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14 Jan 2016 2 min read
BlueCrest AllBlue’s board is proposing to move the mandate to JPMorgan
The board of BlueCrest AllBlue has provided an update on the continuation proposals for the fund. The board says that having completed its review of manager proposals received by the Company and consulted with its major shareholders, it proposes to recommend the replacement of its existing management arrangements with a mandate given to J.P. Morgan […]
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01 Dec 2015 4 min read
BlueCrest All Blue looks set to wind up
BlueCrest Capital Management has announced that they intend to return all external money to investors and just manage their own. The implication of this is that BlueCrest AllBlue will follow BlueCrest BlueTrend into liquidation. The full text of their announcement is given below: The Company has today received a notification from BlueCrest Capital Management Limited […]
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20 Nov 2015 1 min read
BlueCrest All Blue continuation vote triggered
BlueCrest All Blue says its rolling 12 month discount floor provision has been triggered for its Sterling class of shares (the discount, based on the October month end figure, was too wide). This requires, in accordance with the Company’s articles of association, a continuation vote to be proposed for this class by way of ordinary resolution. […]
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16 Jul 2015 1 min read
Small company investment trusts got election boost
Investment trusts specialising in smaller companies were among the top performers of the past few months after a decisive election result improved confidence in the sector, new research shows. But commodity and Asia-focused investment trusts were among the stragglers as investors shunned stocks exposed to an economic slowdown in China or a US rate rise, […]
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15 Apr 2015 1 min read
BlueCrest All Blue passes 100% return mark
BlueCrest All Blue generated a 6.9% return on net assets over the course of 2014 to make a 100% return since the launch of the fund in 2006. They added one new fund to the mix during the year, BlueCrest Equity Strategies Fund, which the directors say is managed close to market neutral and appears […]
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29 Sep 2014 1 min read
Bluecrest spinning out systematic trading business
BABS, BABE, BABU, BBTS : Bluecrest spinning out systematic trading business Blucrest, managers of the Bluecrest BlueTrend and Bluecrest AllBlue funds, have announced that the systematic trading operations of the company are to be spun out into a separate vehicle, Systematica. The firm will launch in January 2015, and will initially have offices in Jersey, […]
