LONDON, March 16, 2011 /PRNewswire/ -- Tetragon Financial Group Limited (TFG) is a Guernsey closed-ended investment company traded on Euronext Amsterdam by NYSE Euronext under the ticker symbol "TFG".
In this monthly update, unless otherwise stated, we report on the consolidated business incorporating TFG and Tetragon Financial Group Master Fund Limited. (1)
Net Asset Value Estimates as of February 28, 2011
(Amounts provided are unaudited and subject to change)
(in millions except per share data) Estimated Fair Value of Investments: $1,073.0 Cash and Cash Equivalents: $156.0 Net Other Assets/ (Liabilities): ($29.9) Estimated Net Asset Value: $1,199.1 TFG Shares Outstanding: 131.2 Net Asset Value per Share: (2) $10.00
(1)TFG invests substantially all its capital through a master fund, Tetragon Financial Group Master Fund Limited ("TFGMF") in which it holds a 100.0% share.
(2)Excludes 7.34 million shares held in treasury and 3.91 million shares held by a subsidiary.
Portfolio Composition Portfolio Held by Tetragon Financial Group Master Fund Limited (unless otherwise stated) As of February 28, 2011 Tetragon Financial Group Ltd Snapshot of Portfolio Held by TFG Master Fund Limited (unless otherwise stated) 28 February 2011 Report Date TFG TFG TFG group No. of Share group Net Assets Closed CLO Price Market ($MM) Transactions ($) Cap ($MM)(1) 28 February 2011 $7.99 $1,048.0 $1,199.1 70(2) Capital Allocation by Risk Investment Asset Class Capital - Fair Allocation Value ($MM)(3)(4) Broadly Syndicated Senior 73.6% $786.3 Secured Loans: US Broadly Syndicated Senior 10.7% $114.6 Secured Loans: Europe Middle Market Senior 15.6% $167.1 Secured Loans: US CDOs Squared: US 0.0% $0.0 ABS and Structured 0.0% $0.0 Finance: US Total 100.0% $1,068.0 Geographic Allocation by Asset USA Europe Asia Total Class Pacific Broadly Syndicated Senior 87.3% 12.7% 0.0% 100.0% Secured Loans Middle Market Senior 100.0% 0.0% 0.0% 100.0% Secured Loans CDOs Squared 0.0% 0.0% 0.0% 0.0% ABS and Structured 0.0% 0.0% 0.0% 0.0% Finance 89.3% 10.7% 0.0% 100.0% Top 15 Underlying Bank Bank Loan Loan Credits Exposure (5) Community Health 0.94% Univision 0.88% Communications TXU Corp 0.86% HCA Inc 0.84% Charter Communications 0.82% First Data Corp 0.77% Cablevision Systems 0.69% Corp SunGard Data Systems 0.69% Inc Aramark Corp 0.68% Sabre Holdings Corp 0.67% Federal-Mogul 0.65% Las Vegas Sands 0.62% UPC Broadband 0.60% Georgia Pacific Corp 0.59% Health Management 0.59% Associates
EUR-USD FX: 1.38
(1) Calculated using TFG shares outstanding and month end exchange price.
(2) Excludes CDO-squared and ABS CDO transactions which were written off in October 2007. TFG continues to hold the economic rights to 3 of these written-off transactions.
(3) Excludes TFG's investments in LCM Asset Management LLC and GreenOak Real Estate LP
(4) Equivalent to Investment in Securities at Fair Value in the US GAAP Financial Statements.
(5) Includes par amount of loans held directly by TFG and also loan exposures via TFG's investments in CLOs. With respect to CLO investments, calculated as a percentage of total corporate loan assets that TFG has exposure to based on its equity-based pro-rata share of each CLO's total portfolio. All calculations are net of any single name CDS hedges held against that credit.
Tetragon Financial Group Limited (TFG) Monthly Update For February 2011 Expected Upcoming Events Date Q4 dividend payment date March 25, 2011 March 2011 Monthly Report April 19, 2011 (approx)
This release does not contain or constitute an offer to sell or a solicitation of an offer to purchase securities in the United States or any other jurisdiction. The securities of TFG have not been and will not be registered under the US Securities Act of 1933 (the "Securities Act"), as amended, and may not be offered or sold in the United States or to US persons unless they are registered under applicable law or exempt from registration. TFG does not intend to register any portion of its securities in the United States or to conduct a public offer of securities in the United States. In addition, TFG has not been and will not be registered under the US Investment Company Act of 1940, and investors will not be entitled to the benefits of such Act. TFG is registered in the public register of the Netherlands Authority for the Financial Markets under Section 1:107 of the Financial Markets Supervision Act ("FMSA") as a collective investment scheme from a designated country. This release constitutes regulated information ("gereglementeerde informatie") within the meaning of Section 1:1 of the FMSA.
For further information, please contact: TFG: David Wishnow/Yuko Thomas Investor Relations email@example.com Press Inquiries: Brunswick Group Andrew Garfield/Gill Ackers/Pip Green +44-20-7404-5959 firstname.lastname@example.org
SOURCE Tetragon Financial Group Limited