Dexion Absolute Limited (the
"Company")
Estimated Net Asset Values
Ordinary Shares
As at the close of business on 30
September 2015, the estimated net asset values of the
Company’s ordinary shares are as follows:-
Share Class |
NAV |
Since
25 September Performance |
MTD Performance* |
YTD Performance |
£ Shares |
190.63 pence |
-1.31% |
-1.80% |
+3.67% |
EUR Shares |
EUR 2.6453 |
-0.73% |
-1.29% |
-0.26% |
US$ Shares |
US$ 4.0331 |
-1.29% |
-1.82% |
+2.90% |
* based on Final NAV for 28th August
2015 reported on 28th September 2015.
2011 Redeemed Shares
As at the close of business on 30
September 2015, the estimated net asset value of the
Company’s 2011 Redemption Portfolio was US$1.45m.
Share Class |
NAV per 2011 Redeemed
Share |
EUR Shares |
US$ 0.0259 |
2012 Redeemed Shares
As at the close of business on 30
September 2015, the estimated net asset value of the
Company’s 2012 Redemption Portfolio was US$3.27m. Shares redeemed pursuant to the 2012
Redemption Offer have a single USD net asset value based upon
exchange rates at 30 September
2015.
Share Class |
NAV per Redeemed Share |
EUR Shares |
US$ 0.0251 |
USD Shares |
US$ 0.0276 |
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
As at the close of business on 30
September 2015, the estimated net asset value of the
Company’s 2013 Redemption Portfolio was US$3.89m. Shares redeemed pursuant to the 2013
Redemption Offer have a single USD net asset value based upon
exchange rates at 30 September
2015.
Share Class |
NAV per Redeemed Share |
GBP Shares |
US$ 0.0294 |
EUR Shares |
US$ 0.0360 |
USD Shares |
US$ 0.0414 |
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 October 2015 approximately 95.65% of the
Continuing Portfolio (by NAV) was invested in AOFL II. The value of
designated investments as at 1 October
2015 equates to approximately 1.63% 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 and 22 February 2013.