AIDP Aida FD Gbp

 

TIDMAIDP TIDMAIDU TIDMAIDE 
 
RNS Number : 4164X 
Aida Fund Limited 
14 August 2009 
 

The Aida Fund Limited ("Aida") 
 
 
July Estimated Net Asset Values 
 
 
The estimated Net Asset Values of Aida's Shares as of 31 July 2009 are as 
follows: 
 
 
+------------------+------------------+------------------+------------------+ 
|                  |    US Dollar     |      Euro        |Sterling (pence)  | 
+------------------+------------------+------------------+------------------+ 
| NAV              |      1.6538      |      1.5763      |      136.35      | 
+------------------+------------------+------------------+------------------+ 
 
 
+------------------+------------------+------------------+------------------+ 
|                  |    US Dollar     |      Euro        |    Sterling      | 
+------------------+------------------+------------------+------------------+ 
| Performance      |                  |                  |                  | 
+------------------+------------------+------------------+------------------+ 
| MTD              |      0.65%       |      0.68%       |      0.59%       | 
+------------------+------------------+------------------+------------------+ 
| YTD              |      0.61%       |      2.31%       |      2.30%       | 
+------------------+------------------+------------------+------------------+ 
| 5-Year           |     (8.92)%      |    (13.95)%      |    (9.43)%       | 
+------------------+------------------+------------------+------------------+ 
 
 
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. 
 
 
On 31 July 2009 side pockets accounted for 5.12% of the total assets of Aida 
Fund and 5.98% of invested assets. 
 
 
Investment Manager Comment 
During July 2009 the Aida Fund US$ class increased by 0.65%, the underlying 
portfolio before leverage and expenses increased by an estimated 1.35%, the S&P 
500 increased by 7.41% and the FTSE 100 increased by 8.45%. 
Since inception in September 2001 until the end of July 2009 the Aida Fund US$ 
class has risen by 10.25%. Over the same period the S&P 500 has fallen (12.89)% 
and the FTSE 100 has fallen (13.78)%. 
Of the underlying funds that Aida invests in 4 of the funds who have reported 
declined whilst 14 of the funds who have reported increased. 
On 17th December 2008 shareholders approved a change in the strategy of the Aida 
Fund to eliminate leverage for investment purposes.  As at the 30 June 2009 the 
Fund ceased to employ leverage for investment purposes. The fund has been debt 
free from the 17 July 2009 and has a net cash position. 
 
 
The Aida Fund announced proposals to restructure the fund on the 25th June 2009 
and a shareholder circular was sent to shareholders on the 5th August 2008 ahead 
an EGM on the 24th August 2009. 
 
 
The board has put forward the proposals described in the circular in response to 
the significantly changed market environment since the Aida Fund was launched. 
The proposals are aimed at improving the liquidity profile of the investment 
portfolio, offering investors the choice of holding their investment in the 
existing London listed closed-ended vehicle or in an open-ended vehicle with an 
ongoing quarterly entitlement to request redemption and providing a structure in 
which the liquidity profile of the investment portfolio is unaffected by 
investors in the new open-ended vehicle who withdraw their investment or by the 
cash demands of currency hedging for different share classes. 
 
 
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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