AIDE Aida FD Eur

 

TIDMAIDP TIDMAIDU TIDMAIDE 
 
RNS Number : 0582Z 
Aida Fund Limited 
15 September 2009 
 

The Aida Fund Limited ("Aida") 
 
 
August Estimated Net Asset Values 
 
 
The estimated Net Asset Values of Aida's Shares as of 28 August 2009 are as 
follows: 
 
 
+------------------+------------------+------------------+------------------+ 
|                  |    US Dollar     |      Euro        |Sterling (pence)  | 
+------------------+------------------+------------------+------------------+ 
| NAV              |      1.6680      |      1.5773      |      136.54      | 
+------------------+------------------+------------------+------------------+ 
 
 
+------------------+------------------+------------------+------------------+ 
|                  |    US Dollar     |      Euro        |    Sterling      | 
+------------------+------------------+------------------+------------------+ 
| Performance      |                  |                  |                  | 
+------------------+------------------+------------------+------------------+ 
| MTD              |      0.73%       |     (0.06)%      |      0.01%       | 
+------------------+------------------+------------------+------------------+ 
| YTD              |      1.47%       |      2.37%       |      2.45%       | 
+------------------+------------------+------------------+------------------+ 
| 5-Year           |     (8.44)%      |    (14.26)%      |    (9.87)%       | 
+------------------+------------------+------------------+------------------+ 
 
 
These valuations, which have been prepared in good faith by Aida, are based 
principally on estimated valuations prepared generally by the investment manager 
of Aida's underlying investments. Such estimates may be subject to little 
verification or other due diligence, are un-audited and may not comply with 
generally accepted accounting or valuation principles. Other risk factors which 
may be relevant to this valuation are set out in Aida's prospectus dated 4th 
March 2008. 
 
 
At the end of August 2009 side pockets accounted for 7.08% of the total assets 
of Aida Fund and 7.85% of invested assets. 
 
 
Investment Manager Comment 
During August 2009 the Aida Fund US$ class increased by 0.73%, the underlying 
portfolio before leverage and expenses increased by an estimated 1.51%, the S&P 
500 increased by 3.36% and the FTSE 100 increased by 6.52%. 
Since inception in September 2001 until the end of August 2009 the Aida Fund US$ 
class has risen by 11.20%, the underlying portfolio before leverage and expenses 
increased by an estimated 51.96%. Over the same period the S&P 500 has fallen 
(9.96)% and the FTSE 100 has fallen (8.16)%. 
Of the underlying funds that Aida invests in 1 of the funds who have reported 
declined whilst 18 of the funds who have reported increased. 
On 17th December 2008 shareholders approved a change in the strategy of Aida to 
eliminate leverage for investment purposes.  As at the 30th June 2009 the Fund 
ceased to employ leverage for investment purposes. The fund has been debt free 
from the 17th July 2009 and currently has a net cash position. 
 
 
A restructuring of Aida was outlined in a circular dated 4th August 2009. At an 
EGM on the 24th August 2009 resolutions were passed to: (a) change Aida's 
investment policy; (b) adopt revised articles of incorporation to provide, 
amongst other things, for the conversion of Euro and Sterling denominated 
Ordinary Shares into US Dollar denominated Ordinary Shares; (c) change the name 
of Aida to the Aida Closed Ended Fund Limited; and (d) undertake a capital 
reorganisation of Aida to create side pocket shares for investments which did 
not satisfy the revised investment policy. 
 
 
On 28th August 2009 Aida ceased hedging of currency classes and as part of the 
restructuring of the fund Euro and Sterling shares will be converted to US 
Dollar shares at the exchange rates prevailing on 28th August 2009 which, were: 
 
 
  *  Sterling to US Dollar: GBP1:1.63111 US$ 
  *  Euro to US Dollar: EUR1:1.43735 US$ 
 
It is anticipated that by the end of September documentation will be posted 
to those shareholders who have returned a valid Indication of Interest Form to 
Aida. 
 
 
Aida Capital, the investment manager, remains available at all times to discuss 
the fund and markets in general. 
 
 
Aida Capital 
+44 20 7600 7500 
 
 
 
 
Disclaimer 
This announcement does not constitute an offer to sell, exchange or transfer any 
securities of The Aida Fund Limited and is not soliciting an offer to purchase, 
exchange or transfer such securities in any jurisdiction where the offer, sale, 
exchange or transfer is not permitted or to any person or entity to whom it is 
unlawful to make that offer, sale, exchange or transfer. 
 
 
The registration document published on 4th March 2008 contains further details 
of the selling restrictions in such jurisdictions. 
 
 
This announcement is not an offer of securities for sale in the United States. 
The shares referred to herein have not been and will not be registered under the 
United States Securities Act of 1933, as amended (the "Securities Act") or with 
any securities regulatory authority of any state or other jurisdiction of the 
United States and may not be offered or sold within the United States or to, or 
for the account or benefit of, US Persons (as defined in Regulation S under the 
Securities Act) except in accordance with the Securities Act or an exemption 
therefrom. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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