Dexion Absolute Ltd Estimated NAV 29.02.2016
March 04 2016 - 9:45AM
UK Regulatory
TIDMDAB TIDMDABE TIDMDABU
Dexion Absolute Limited (the "Company")
Estimated Net Asset Values
Ordinary Shares
As at the close of business on 29 February 2016, the estimated net asset value
of the Company's ordinary shares is as follows:-
Ordinary NAV per Share Performance MTD YTD
Share Class since 19 Performance* Performance
February
GBP Shares 182.51 pence +0.48% -1.59% -3.66%
* based on Final NAV for 29 January 2016 reported on 29 February 2016.
2011 Redeemed Shares
The estimated net asset value of the Company's 2011 Redemption Portfolio was
$0.46 million as of 29 February 2016. This was attributed to the Redeemed Share
class as follows:-
Share Class NAV per Redeemed Share
EUR Shares US$ 0.0083
All of the Redeemed Shares have been cancelled. Accordingly, the "NAV per
Redeemed Share" represents the amount then owed by the Company in respect of
such Redeemed Shares at the relevant date.
2012 Redeemed Shares
The estimated net asset value of the Company's 2012 Redemption Portfolio was
$1.61 million as of 29 February 2016. Shares redeemed pursuant to the 2012
Redemption Offer have a single USD net asset value based upon exchange rates at
the relevant date. This was attributed between Redeemed Share classes as
follows:-
Share Class NAV per Redeemed Share*
EUR Shares US$ 0.0123
USD Shares US$ 0.0136
All of the Redeemed Shares have been cancelled. Accordingly, the "NAV per
Redeemed Share" represents the amount then owed by the Company in respect of
such Redeemed Shares at the relevant date.
2013 Redeemed Shares
The estimated net asset value of the Company's 2013 Redemption Portfolio was
$1.99 million as of 29 February 2016. Shares redeemed pursuant to the 2013
Redemption Offer have a single USD net asset value based upon exchange rates at
the relevant date. This was attributed between Redeemed Share classes as
follows:-
Share Class NAV per Redeemed Share
GBP Shares US$ 0.0150
EUR Shares US$ 0.0184
USD Shares US$ 0.0212
All of the Redeemed Shares have been cancelled. Accordingly, the "NAV per
Redeemed Share" represents the amount then owed by the Company in respect of
such Redeemed Shares at the relevant date.
2015 Redeemed Shares
The net asset value of the Company's 2015 Redemption Portfolio was $3.12
million as of 29 February 2016. Shares redeemed pursuant to the 2015 Redemption
Offer have a single USD net asset value based upon exchange rates at the
relevant date. This was attributed between Redeemed Share classes as follows:-
Share Class NAV per Redeemed Share*
GBP Shares $0.1631
EUR Shares $0.1668
USD Shares $0.2278
* As adjusted for the payment for 2015 Redeemed GBP Shares of US$ 2.707626 per
Redeemed GBP Share, Redeemed EUR Shares of US$ 2.768853 per Redeemed EUR Share
and Redeemed USD Shares of US$ 3.781738 per Redeemed USD Share on 29 February
2016.
All of the Redeemed Shares have been cancelled. Accordingly, the "NAV per
Redeemed Share" represents the amount then owed by the Company in respect of
such Redeemed Shares at the relevant date.
These valuations, which have been prepared in good faith by the Company's
administrator, are for information purposes only and are based on the unaudited
estimated valuations supplied to the Company's investment adviser by the
administrators or managers of the Company's underlying investments and such
valuations may not be considered independent or may be subject to potential
conflicts of interest. Both weekly manager estimates and monthly valuations may
be produced as at valuation dates which do not co-incide with valuation dates
for the Company, may be based on valuations provided as of a significantly
earlier date, may differ materially from the actual value of the Company's
portfolio and are unaudited or may be subject to little verification or other
due diligence and may not comply with generally accepted accounting practices
or other generally accepted valuation principles. The Company's investment
adviser, investment manager and administrator may not have sufficient
information to confirm or review the completeness or accuracy of information
provided by those managers or administrators of the Company's investments. In
addition, those entities may not provide estimates of the value of the
underlying funds in which the Company invests on a regular or timely basis or
at all with the result that the values of such investments may be estimated by
the investment adviser. Since 1 April 2013 the Company has been transitioning
to becoming a feeder fund of Aurora Offshore Fund Ltd II ("AOFL II"). AOFL II's
investment manager is also the investment adviser to the Company and so
valuations of the Company's investment in AOFL II may be subject to potential
conflicts of interest. As at 1 March 2016 approximately 105.42% of the
Continuing Portfolio (by NAV) was invested in AOFL II. The value of designated
investments as at 1 March 2016 equates to approximately 1.08% of the Continuing
Portfolio NAV. Certain other risk factors which may be relevant to these
valuations are set out in the Company's prospectus dated 17 October 2007 and
the Company's circulars dated 15 April 2011, 5 April 2012, 22 February 2013, 27
May 2013 and 26 August 2015.
END
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