Net Asset Value(s)

RNS Number : 2806M

Fair Oaks Income Fund Limited

15 July 2014

 

Fair Oaks Income Fund Limited

15 July 2014

FAIR OAKS INCOME FUND LIMITED (the "Company")

(Incorporated in Guernsey under The Companies (Guernsey) Law, 2008, as amended, with registered number 58123 and registered as a Registered Closed-ended Collective Investment Scheme with the Guernsey Financial Services Commission)

Monthly Announcement of Unaudited Net Asset Value

As at the close of business on 30 June 2014 the estimated unaudited Net Asset Value of the Company's shares was as follows:  

Fund Name	ISIN	NAV	Monthly Performance	YTD Performance
Fair Oaks Income Fund Limited	GG00BMBN1D14	USD 0.9894	+1.04%	+1.04%

Fair Oaks Capital Limited, the Company's investment advisor, has notified the Company of the following:

·     The purchase of the two initial CLO investments - Harvest CLO VII Limited and T2 Income Fund CLO 1 Ltd. - has been completed as envisaged in the Company's prospectus dated 16 May 2014.

·     A number of investment opportunities are under review as potential investments. The Company will announce any investment commitments by the Master Fund once formalised.

·     It is expected that the Master Fund will receive a USD 2.5 million distribution from the current portfolio in July 2014 (approximately USD 0.022 per share) of which approximately USD 0.012 per share is expected to be considered gross income available for distribution.

·     The Company's first monthly report is expected to be produced as at 31 July 2014. The Company will announce once this has been published.

Enquiries:

Praxis Fund Services Limited

Ben Le Prevost

DDI: [phone]

Email: [e-mail]

Camarco

Edward Gascoigne-Pees

Hazel Stevenson

DDI: [phone]

Email: [e-mail]

Numis Securities Limited

Nathan Brown, Corporate Broking

DDI: [phone]

Email: [e-mail]

Notes:

The Net Asset Value in this announcement is an estimate, and is based on unaudited estimated valuations.  The final Net Asset Value of the Company may be materially different from the estimated value, which should only be taken as an indicative value which has been provided for information only and upon which no reliance should be placed.  Actual results, performance or achievements may differ materially from estimated results, performance or achievements.   Except as required by applicable law, the Company expressly disclaims any obligation to update or revise such estimates to reflect any change in expectations, new information, subsequent events or otherwise.

This document is for information purposes only and is not an offer to invest. All investments are subject to risk.  Past performance is no guarantee of future returns.   Prospective  investors are  advised  to seek  expert  legal, financial, tax  and other  professional advice  before making  any  investment decisions.

Month to date and year to date performance figures are calculated by reference to the estimated NAV on 12 June 2014, the date of admission to trading of the Company's shares.  

 

END

 

 

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