TIDMVTA
Volta Finance Limited (VTA / VTAS) -- July 2021 NAV
amendment
NOT FOR RELEASE, DISTRIBUTION, OR PUBLICATION, IN WHOLE OR PART,
IN OR INTO THE UNITED STATES
*****
Guernsey, 26 August 2021
On 11(th) August 2021 the Company published an end of July NAV
of EUR7.32 per share. The Company has been notified that, due to an
incorrect price on one CLO Equity position, this NAV was overstated
by EUR1.6m. The correct end of July NAV is EUR7.28 per share (a
total NAV of EUR266.3). Therefore, the July performance is +1.9%
instead of +2.5% published on 11(th) August.
The incorrect price concerned a seasoned USD CLO Equity position
(BlackDiamond 2013-R) that paid a principal payment in July that
was published as an interest payment by the trustee of this CLO so
that the two prices we received for the end of July on this
position did not reflect such principal payment appropriately.
This error also impacts the interest and coupons received by
Volta in July although it does not change the overall message we
conveyed in the factsheet: July 2021 was a new high in terms of
interest and coupons received with the equivalent of EUR10.6m. On a
6-month rolling basis, Volta received the equivalent of EUR27.0m at
the end of July, representing a 20.2% annualised cash flow yield,
based on the end of July NAV. This is still a significant increase
since the end of June measure.
CONTACTS
For the Investment Manager
AXA Investment Managers Paris
Serge Demay
serge.demay@axa-im.com
https://www.globenewswire.com/Tracker?data=N04-95Qbco2yVr-tKA5MeY3wIyyGV6aBSbES3jWHhU7vO3UihQ05W-kBfvbxQN94ZVRFrLUMZ7eAL91yuCxFCD1g4bfybew7gGh7k9VgWbE=
+33 (0) 1 44 45 84 47
Company Secretary and Administrator
BNP Paribas Securities Services S.C.A, Guernsey Branch
guernsey.bp2s.volta.cosec@bnpparibas.com
https://www.globenewswire.com/Tracker?data=f9KNtub7FO1RmLGHlpXdFoZfaX1r5UpPYOYXPJr7FBPhnd-Z_xI_SMF9GN_JT67bjPsmWakAZj55kMwaLxytKNTUHO8mtJXF1uaAKlP5I1jIsy-iogBlXzkbhcYvTeeWHjpsnmoP39ilJYCLkaSJT4s3b2lUT5HcyRTIUO6WuvrwRVB_JWaVU3QxgtkWhOQMJG-qagcEIVi3V38f18h6ivqsPKdAZ8sXTVeNKRDq6LWtxcyI3b4fvR3dPNQh0y9lFn8nnnzavqykTk6-tQxyOzJI9LIDYr28yx0lIKOgnXZ6QdImValo-pk12180AbqLb_gJu3YSkB5u6i2365_yrYUTGFK2Ce9joSvBYzVL6MOj34-PzvN32JBtMxXk68b_
+44 (0) 1481 750 853
Corporate Broker
Cenkos Securities plc
Andrew Worne
Daniel Balabanoff
+44 (0) 20 7397 8900
*****
ABOUT VOLTA FINANCE LIMITED
Volta Finance Limited is incorporated in Guernsey under The
Companies (Guernsey) Law, 2008 (as amended) and listed on Euronext
Amsterdam and the London Stock Exchange's Main Market for listed
securities. Volta's home member state for the purposes of the EU
Transparency Directive is the Netherlands. As such, Volta is
subject to regulation and supervision by the AFM, being the
regulator for financial markets in the Netherlands.
Volta's investment objectives are to preserve capital across the
credit cycle and to provide a stable stream of income to its
shareholders through dividends. Volta seeks to attain its
investment objectives predominantly through diversified investments
in structured finance assets. The assets that the Company may
invest in either directly or indirectly include, but are not
limited to: corporate credits; sovereign and quasi-sovereign debt;
residential mortgage loans; and, automobile loans. The Company's
approach to investment is through vehicles and arrangements that
essentially provide leveraged exposure to portfolios of such
underlying assets. The Company has appointed AXA Investment
Managers Paris an investment management company with a division
specialised in structured credit, for the investment management of
all its assets.
*****
ABOUT AXA INVESTMENT MANAGERS
AXA Investment Managers (AXA IM) is a multi-expert asset
management company within the AXA Group, a global leader in
financial protection and wealth management. AXA IM is one of the
largest European-based asset managers with 679 investment
professionals and EUR858 billion in assets under management as of
the end of December 2020.
*****
This press release is published by AXA Investment Managers Paris
("AXA IM"), in its capacity as alternative investment fund manager
(within the meaning of Directive 2011/61/EU, the "AIFM Directive")
of Volta Finance Limited (the "Volta Finance") whose portfolio is
managed by AXA IM.
This press release is for information only and does not
constitute an invitation or inducement to acquire shares in Volta
Finance. Its circulation may be prohibited in certain jurisdictions
and no recipient may circulate copies of this document in breach of
such limitations or restrictions. This document is not an offer for
sale of the securities referred to herein in the United States or
to persons who are "U.S. persons" for purposes of Regulation S
under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), or otherwise in circumstances where such offer would be
restricted by applicable law. Such securities may not be sold in
the United States absent registration or an exemption from
registration from the Securities Act. Volta Finance does not intend
to register any portion of the offer of such securities in the
United States or to conduct a public offering of such securities in
the United States.
*****
This communication is only being distributed to and is only
directed at (i) persons who are outside the United Kingdom or (ii)
investment professionals falling within Article 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order
2005 (the "Order") or (iii) high net worth companies, and other
persons to whom it may lawfully be communicated, falling within
Article 49(2)(a) to (d) of the Order (all such persons together
being referred to as "relevant persons"). The securities referred
to herein are only available to, and any invitation, offer or
agreement to subscribe, purchase or otherwise acquire such
securities will be engaged in only with, relevant persons. Any
person who is not a relevant person should not act or rely on this
document or any of its contents. Past performance cannot be relied
on as a guide to future performance.
*****
This press release contains statements that are, or may deemed
to be, "forward-looking statements". These forward-looking
statements can be identified by the use of forward-looking
terminology, including the terms "believes", "anticipated",
"expects", "intends", "is/are expected", "may", "will" or "should".
They include the statements regarding the level of the dividend,
the current market context and its impact on the long-term return
of Volta Finance's investments. By their nature, forward-looking
statements involve risks and uncertainties and readers are
cautioned that any such forward-looking statements are not
guarantees of future performance. Volta Finance's actual results,
portfolio composition and performance may differ materially from
the impression created by the forward-looking statements. AXA IM
does not undertake any obligation to publicly update or revise
forward-looking statements.
Any target information is based on certain assumptions as to
future events which may not prove to be realised. Due to the
uncertainty surrounding these future events, the targets are not
intended to be and should not be regarded as profits or earnings or
any other type of forecasts. There can be no assurance that any of
these targets will be achieved. In addition, no assurance can be
given that the investment objective will be achieved.
The figures provided that relate to past months or years and
past performance cannot be relied on as a guide to future
performance or construed as a reliable indicator as to future
performance. Throughout this review, the citation of specific
trades or strategies is intended to illustrate some of the
investment methodologies and philosophies of Volta Finance, as
implemented by AXA IM. The historical success or AXA IM's belief in
the future success, of any of these trades or strategies is not
indicative of, and has no bearing on, future results.
The valuation of financial assets can vary significantly from
the prices that the AXA IM could obtain if it sought to liquidate
the positions on behalf of the Volta Finance due to market
conditions and general economic environment. Such valuations do not
constitute a fairness or similar opinion and should not be regarded
as such.
Editor: AXA INVESTMENT MANAGERS PARIS, a company incorporated
under the laws of France, having its registered office located at
Tour Majunga, 6, Place de la Pyramide - 92800 Puteaux. AXA IMP is
authorized by the Autorité des Marchés Financiers under
registration number GP92008 as an alternative investment fund
manager within the meaning of the AIFM Directive.
*****
(END) Dow Jones Newswires
August 26, 2021 07:40 ET (11:40 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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