LONDON, June 17, 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. [(()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.(1)
Net Asset Value Estimates as of May 31, 2011
(Amounts provided are unaudited and subject to change)
(in millions except per share data) Estimated Fair Value of Investments: $1,253.3 Cash and Cash Equivalents: $74.4 Net Other Assets/ (Liabilities): ($1.3) Estimated Net Asset Value: $1,326.4 TFG Shares Outstanding: 131.7 Net Asset Value per Share: (1)(3) $11.12
Portfolio Held by Tetragon Financial Group Master Fund Limited
(unless otherwise stated)
As of May 31, 2011
TFG TFG TFG group group Share Market Net Price Cap Assets No. of Closed CLO Report Date ($) ($MM)(1) ($MM) Transactions 31 May 2011 $8.90 $1,172.5 $1,326.4 74(2)
Risk Investment - Capital Allocation Capital Fair Value by Asset Class Allocation ($MM)(3)(4) Broadly Syndicated Senior Secured Loans: US 73.9% $922.2 Broadly Syndicated Senior Secured Loans: Europe 11.8% $147.2 Middle Market Senior Secured Loans: US 14.3% $178.8 CDOs Squared: US 0.0% $0.0 ABS and Structured Finance: US 0.0% $0.0 Total 100.0% $1,248.2 Asia Geographic Allocation by Pacific Total Asset Class USA Europe Broadly Syndicated Senior Secured Loans 86.2% 13.8% 0.0% 100.0% Middle Market Senior Secured Loans 100.0% 0.0% 0.0% 100.0% CDOs Squared 0.0% 0.0% 0.0% 0.0% ABS and Structured Finance 0.0% 0.0% 0.0% 0.0% 88.2% 11.8% 0.0% 100.0% Bank Loan Top 15 Underlying Bank Exposure Loan Credits (5) Univision Communications 0.91% Community Health 0.85% HCA Inc 0.83% First Data Corp 0.78% Charter Communications 0.75% SunGard Data Systems Inc 0.73% Aramark Corp 0.72% Cablevision Systems Corp 0.69% TXU Corp 0.69% Sabre Holdings Corp 0.65% Federal-Mogul 0.63% Las Vegas Sands 0.63% Nielsen Company 0.58% Georgia Pacific Corp 0.58% Health Management Associates 0.57% EUR-USD FX: 1.44
TOP 10 INDUSTRY Healthcare, Education & Childcare 12.0% Broadcasting & Entertainment 7.5% Diversified/Conglomerate Service 7.0% Telecommunications 6.5% Retail Stores 5.2% Chemicals, Plastics & Rubber 5.2% Printing & Publishing 4.0% Finance 3.7% Personal, Food & Miscellaneous 3.7% Leisure, Amusement, Motion Pictures & Entertainment 3.6%
(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 May 2011
Expected Upcoming Events Date June 2011 Monthly Report July 20, 2011 (approx.) Q2 Ex-Dividend Date August 01, 2011 Q2 Financial Results and Interim Financial Statements August 01, 2011 Q2 Dividend Record Date August 03, 2011 Quarterly Investor Call August 04, 2011 July 2011 Monthly Report August 18, 2011 Q2 Dividend Payment Date August 26, 2011
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:
David Wishnow/Yuko Thomas
Andrew Garfield/Gill Ackers/Pip Green
SOURCE Tetragon Financial Group Limited