RNS Number : 4227J
  New Star Financial Opp Fd Ltd
  02 December 2008
   

    The Directors of New Star Financial Opportunities Fund Limited today announce that the unaudited Net Asset Value per Ordinary Share
based on bid prices (excluding income from 1 December 2007) as at 30 November 2008 was 32.78 pence (including income it was 34.05 pence).

    The Treasury Net Asset Value per Ordinary Share based on bid prices (excluding income from 1 December 2007) as at 30 November 2008 was
32.60 pence (including income it was 33.74 pence).

    The Company had total assets of �19.686 million and net current liabilities of �7.185 million as at 30 November 2008.

    Please note that this is an estimate and may differ from the final net asset value disclosed in the 30 November 2008 financial
statements.

    Largest Holdings
 Holding        Stock                                     Value (�)  % of Fund


   120,000      HSBC Holdings                              858,000     4.4%
   1,000,000    Santander International 3.375% Bond        811,957     4.1%
   350,000      Personal Group Holdings                    735,000     3.7%
   750,000      Brit Insurance 8.5% ULS                    716,025     3.6%
   8,000        Munich Re                                  707,848     3.6%
   750,000      Provident Financial 7.125% Sub Bond        677,160     3.4%
   750,000      Investec Finance 7.75% Bond                642,525     3.3%
   150,000      Aviva                                      600,375     3.0%
   300,000      RSA Insurance                              459,000     2.3%
   12,750       BNP Paribas                                456,788     2.3%
   180,000      DnB NOR                                    440,292     2.2%
   550,000      SVG Capital 8.25% CULS                     436,315     2.2%
   300,000      Randall & Quilter                          390,000     2.0%
   3,000        Zurich Financial Services                  379,859     1.9%
   70,000       Banco Santander                            371,620     1.9%
   550,000      F&C Asset Management 6.75% Sub Bond        350,240     1.8%
                                                                          
   500,000      Intesa Sanpaolo 6.625% Bond                347,970     1.8%
   600,000      Argon 8.162% Bond                          340,800     1.7%
   350,000      PSource Structured Debt                    329,000     1.7%
   25,000       Axa                                        309,063     1.6%
   450,000      Legal & General                            302,850     1.5%
   300,000      Barclays 14.0% Sub Bond                    302,490     1.5%
   250,000      Liontrust Asset Management                 298,750     1.5%
   350,000      HBOS 9.54% Cap Funding                     283,710     1.4%
   300,000      RSA Insurance 7.375% Pref                  283,500     1.4%
   350,000      Nordea 6.25% Sub Bond                      281,925     1.4%
   250,000      Alliance & Leicester 9.625% Bond           280,300     1.4%
   200,000      International Personal Finance             280,000     1.4%
   350,000      Standard Chartered 8.103% Sub Bond         276,920     1.4%
   400,000      Credit Agricole 5.136% Bond                273,640     1.4%

  Derivatives 

                The Company has short positions
                equivalent to -12.9% of total assets

    Asset Allocation
                           % of Fund
                         
 Fixed Interest            39.0%
                         
                         
  Banks                    18.9%
                         
  General Financial        10.8%
                         
  Insurance                6.1%
                         
  Investment Companies     3.3%
                         
  Real Estate              0.0%
                         
  Life Assurance           0.0%
                         
                         
                         
  Equities                 61.0%
                         
                         
  Banks                    22.1%
                         
  Insurance                18.9%
                         
  General Financial        7.9%
                         
  Life Assurance           6.6%
                         
  Investment Companies     3.5%
                         
  Real Estate              2.0%

    The Company has 42,369,924 Ordinary Shares in issue of which 4,236,992 are held in Treasury.

    Enquiries to:    Elysium Fund Management Limited
                          No 1 Le Truchot
                          St Peter Port
                         Guernsey GY1 3JX
                          www.elysiumfundman.com

This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
MSCUUUBRWARURAA
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