LONDON, December 20, 2012 /PRNewswire/ --
Tetragon Financial Group Limited (TFG) is a Guernsey closed-ended investment company traded on the NYSE Euronext in Amsterdam 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 November 30 2012
(Amounts provided are unaudited and subject to change)
(in millions except per share data) Estimated Fair Value of Investments: $1,309.9 Cash and Cash Equivalents: $298.3 Net Other Assets / (Liabilities): $94.0 Estimated Net Asset Value: $1,702.2 TFG Shares Outstanding: 133.7 Net Asset Value per Share: (2) $14.91
As of the end of November 2012, the majority of the net assets of the company were invested in the equity tranches of U.S. CLOs. Investments are also held in U.S. senior secured loans, equity tranches of European CLOs, asset management businesses, real estate funds, and CLO mezzanine tranches, with the remainder of the net assets held in cash less certain net liabilities.
The geographical allocation of TFG's CLO equity, direct loan, and real estate fund investments was weighted primarily towards the United States, at 90.4% of such assets as of the end of November 2012. European exposure was approximately 9.4% and Asia was approximately 0.2%. TFG's ownership of asset managers is excluded from the geographic allocation above as such managers are global in nature.
Expected Upcoming Events Date December 2012 Monthly Report January 31, 2013 (approx) January 2013 Monthly Report February 20, 2013 (approx) 2012 audited financial statements reported March 1, 2013 (approx) Q4 2012 dividend (ex- date) March 1, 2013 Q4 2012 dividend record date March 5, 2013 Q4 2012 dividend payment date March 25, 2013
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.
1.) TFG invests substantially all its capital through a master fund, Tetragon Financial Group Master Fund Limited ("TFGMF") in which it holds a 100% share.
2.) Excludes approximately 6.5 million shares held in treasury, 1.2 million shares held by a subsidiary and 11.8 million shares held in escrow. Please note that the December 2012 monthly report will show an increase in the shares held in a subsidiary as a consequence of the tender offer, whose results were previously announced. Such shares would similarly be excluded from NAV per Share.
For further information, please contact:
David Wishnow/Yuko Thomas
Andrew Garfield/Gill Ackers/Brian Buckley
SOURCE Tetragon Financial Group Limited