Fair Oaks Income Fund Limited Company Update (3935O)
07 November 2016 - 6:00PM
UK Regulatory
TIDMFAIR TIDMTTM
RNS Number : 3935O
Fair Oaks Income Fund Limited
07 November 2016
Fair Oaks Income Fund Limited
7 November 2016
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)
Company Update
The commitment period of FOIF LP (the "Master Fund") in which
the Company is invested ended in June 2016. The Company has
subsequently introduced a redemption mechanism to return to
Shareholders capital realised from the Master Fund and has made its
first distribution under that mechanism.
Fair Oaks Capital Limited, the Company's investment adviser,
believes that there is an ongoing opportunity to invest in US and
European CLOs to generate attractive risk-adjusted returns. The
Company therefore announces that it is considering proposals under
which Shareholders will be offered an option (but will not have an
obligation) to extend the duration of their investment in the
Company through a share class which would retain a pro rata
interest in the Master Fund and reinvest its capital distributions
into a new Master Fund. The new Master Fund will also have a
limited commitment period and maturity, and will have similar
objectives and terms as the current Master Fund.
The Company is also considering its options to raise further
equity for the Company through a new C share class, which, if
issued, would convert into that extended duration share class once
substantially invested.
The Company will make a further announcement in due course.
Enquiries:
Fair Oaks Income Fund Limited
Email: contact@fairoaksincomefund.com
Web: www.fairoaksincomefund.com
Fair Oaks Capital Limited
Hayley Stewart
DDI: +44 (0) 20 3034 0406
Email: hstewart@fairoakscap.com
Praxis Fund Services Limited
Ben Le Prevost
DDI: +44 (0) 1481 755524
Email: Ben.LePrevost@praxisifm.com
Numis Securities Limited
Nathan Brown, Corporate Broking and Advisory
DDI: +44 (0) 20 7260 1426
Email: n.brown@numis.com
Fair Oaks Income Fund Limited
Fair Oaks Income Fund Limited is a registered closed-ended
investment company incorporated in Guernsey. The Company was
admitted to trading on the Specialist Fund Market of the London
Stock Exchange (now the Specialist Fund Segment of the London Stock
Exchange) on 12 June 2014. The Company's ordinary shares have the
TIDM: FAIR and ISIN: GG00BD5NCP31.
The investment policy of the Company is to seek exposure to US
and European CLOs or other vehicles and structures which provide
exposure to portfolios consisting primarily of US and European
floating-rate senior secured loans and which may include
non-recourse financing. The Company will implement its investment
policy by investing in FOIF LP (the "Master Fund").
Notes
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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