Fund Information / Factsheet • Aug 28, 2015
Fund Information / Factsheet
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RNS Number : 3706X
Fair Oaks Income Fund Limited
28 August 2015
Fair Oaks Income Fund Limited
28 August 2015
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)
REINVESTMENT OF MANAGEMENT FEES
Fair Oaks Income Fund Limited (the "Company") announces that the General Partner of the Master Fund (the "GP") has applied to reinvest into the Company's ordinary shares (the "Shares") an amount equivalent to 25% of the advisory and management fees paid to Fair Oaks from 1 January 2015 to 31 July 2015.
In accordance with the agreement disclosed in the Company's prospectus, the reinvestment will be effected by the issue of new Ordinary Shares at the prevailing NAV per Ordinary Share. 262,906 new Ordinary Shares will be issued on 4 September 2015 at $0.9678, being the NAV per Share as at 31 July 2014 minus the August dividend to which the new Shares will not be entitled.
Application will be made for the new Shares to be admitted to trading on the Specialist Fund Market of the London Stock Exchange. It is expected that dealings in the new Shares will commence at 8 a.m. on 4 September 2015.
Enquiries:
Fair Oaks Income Fund Limited
Email: [email protected]
Web: www.fairoaksincomefund.com
Fair Oaks Capital Limited
Miguel Ramos Fuentenebro
DDI: +44 (0) 20 31024855
Email: [email protected]
Praxis Fund Services Limited
Ben Le Prevost
DDI: +44 (0) 1481 755524
Email: [email protected]
Camarco
Edward Gascoigne-Pees
Hazel Stevenson
DDI: +44 (0) 203757 4989
Email: [email protected] / [email protected]
Numis Securities Limited
Nathan Brown, Corporate Broking
DDI: +44 (0) 20 7260 1426
Email: [email protected]
Fair Oaks Income Fund Limited
Fair Oaks Income Fund Limited is an authorised closed-ended investment company incorporated in Guernsey. The Company was admitted to trading on the Specialist Fund Market of the London Stock Exchange on 12 June 2014. The Company's ordinary shares have the TIDM: FAIR and ISIN: GG00BMBN1D14 and the C shares have the TIDM: FAIC and ISIN: GG00BYM6LJ91.
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 Fair Oaks Income Fund LP (the "Master Fund").
The investment objective of the Company is to generate attractive, risk-adjusted returns, principally through income distributions. The Company announced on 16 January 2015 that (1) on the basis of income projections as at that date, the Board planned to declare eleven monthly dividends of a minimum of 0.7 US cents per share (see Note 1) and a larger twelfth interim dividend such that, in the opinion of the Directors, substantially all net income generated by the Company in 2015 is distributed to shareholders; and (2) the Company will continue to target an annual net total return of 12-14% (see Note 1) over the planned life of the Master Fund and it is expected that dividends will constitute the principal element of the return to the Company's shareholders.
Notes
1) The General Partner's estimate of the potential total return for this investment in calculated across certain scenarios and subject to certain assumptions. This and any other references herein to potential future returns or distributions are targets and not forecasts and there can be no guarantee or assurance that they will be achieved.
2) 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
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