Net Asset Value(s) - Replace
20 Février 2008 - 7:28PM
UK Regulatory
RNS Number:4361O
PSolve Alternatives PCC Ltd
20 February 2008
The following replaces the Net Asset Value announcement released at 17:50 under
RNS number 4344O.
Contact details have now been included. The full amended release appears below.
PSolve Niche Opportunities Fund - January 2008 NAV estimate
PSolve Niche Opportunities Fund is a closed-ended protected cell of PSolve
Alternatives PCC Limited (the "Company").
20th February 2008
Estimated Net Asset Value
Estimated performance in January 2008 was -3.38%. As at 31 January, the
estimated net asset value ("NAV") of the Fund's shares was 106.38p.
This valuation is for information purposes only. Monthly net asset values are
based principally on formal valuations supplied to the Company by the
administrators of the Company's underlying investments. Where no such valuation
has been received by the Company's valuation date, an estimated valuation
prepared by the manager or administrator of the underlying fund has been used.
Investors should note that many or all of the Company's investments are unquoted
and that valuations or estimates are unaudited and may not comply with generally
accepted accounting or valuation principles. Furthermore, no verification or
other due diligence process has been undertaken in respect of these valuations
or estimates and PSolve Alternatives PCC Limited accepts no responsibility for
the accuracy of such information.
Investment Policy
PSolve Niche Opportunities Fund targets absolute returns in excess of 15% per
annum averaged over any five year period with low correlation to traditional
equity benchmarks and volatility of less than 10%.
The Company seeks to achieve this through active portfolio management beginning
with a top down macro analysis of global opportunities and risks, then building
the portfolio by identifying hedge fund managers on a bottom up basis.
Diversification of return drivers is sought to ensure that the portfolio is able
to generate returns and suffer limited downside during market events. The
portfolio will typically comprise of around 20 managers. There is an emphasis on
smaller, niche hedge funds.
The Company's shares are denominated in Sterling and the Company will apply a
currency hedging policy to protect the Sterling value from movements in the US
Dollar denominated underlying investments.
Investment of Net Proceeds of Issue
As at 31 January, the Fund was approximately 100% invested in 21 underlying
hedge funds across 5 strategies.
Enquiries: PSolve Alternative Investments
Steve Wakefield
Phone + 44 (0) 20 7024 7435
Enquiries: HSBC Securities Services (Guernsey) Limited
Alison J Bilham
Phone + 44 (0) 1481 707213
END
This information is provided by RNS
The company news service from the London Stock Exchange
END
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