Dexion Absolute Limited (the
“Company”)
September Final Net Asset Values
Ordinary Shares
The net asset values of the Company’s Ordinary Shares as of
30 September 2015 are as follows:
Share Class |
NAV |
MTD
Performance |
YTD
Performance |
GBP Shares |
190.49p |
-1.88% |
+3.59% |
EUR Shares |
€2.6434 |
-1.37% |
-0.34% |
USD Shares |
$4.0301 |
-1.90% |
+2.82% |
2011 Redeemed Shares
The net asset value of the Company’s 2011 Redemption Portfolio
was $1.40 million as of 30 September 2015. This was attributed to the
Redeemed Share class as follows:-
Share Class |
NAV per Redeemed
Share |
EUR Shares |
$0.0250 |
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 net asset value of the Company’s 2012 Redemption Portfolio
was $3.16 million as of 30 September 2015. 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 |
$0.0243 |
USD Shares |
$0.0267 |
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 net asset value of the Company’s 2013 Redemption Portfolio
was $3.77 million as of 30 September 2015. 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 |
$0.0284 |
EUR Shares |
$0.0349 |
USD Shares |
$0.0401 |
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 01 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 95.67%
of the Continuing Portfolio (by NAV) was invested in AOFL II. The
value of designated investments as at 1
October 2015 equates to approximately 1.56% 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.
Net asset values for Redeemed Shares include only those costs
and expenses attributable to Redeemed Shares which have been
accrued as at the relevant NAV date.
The Supplementary Information for September will be released
within the next week.