Close Enhanced Commodities Fund II Investment Obj & Perf Update (1029Y)

TIDMCED2

RNS Number : 1029Y

Close Enhanced Commodities Fund II

18 February 2013

FOR IMMEDIATE RELEASE

18 February 2013

Close Enhanced Commodities Fund II Limited (the "Company")

The investment objective of the Company is to provide to shareholders, on the Redemption Date in June 2013, a capital amount of 100 pence per Share and a growth amount equal to two times any percentage increase in the End Value* of the Commodity Portfolio relative to its Start Value. There are currently 45,250,000 Shares in issue.

The Commodity Portfolio is a notional portfolio of commodities comprising by value on the Start Date, being 31 May 2007, one-eighth of each of oil, copper, aluminium, zinc, nickel, sugar, corn and wheat.

* The End Value will be the aggregate of the average official closing price of each constituent of the Commodity Portfolio on the last business day of each month in the one year prior to the End Date of 31 May 2013.

Based on the values of the commodities as at 31 January 2013, taking into account month end values of the commodities for the preceding month ends in the averaging period and assuming these values were to remain unchanged through to the end of the life of the Company, the redemption proceeds per Share on the Redemption Date would be 148 pence. This is not a forecast nor is it a reflection of the net asset value per Share and takes no account of any unforeseen circumstances and is provided for informational purposes only and should not be relied upon for investment decisions.

 
                                        End value as at 
  Commodity             Start Value     31 January 2013** 
  Brent Crude Oil         $68.04                 $ 115.55 
  Aluminium              $2,733.50             $ 2,073.50 
  Copper                 $7,440.50             $ 8,170.00 
  Nickel                $50,900.00            $ 18,375.00 
  Zinc                   $3,685.50             $ 2,139.00 
  Corn                    390.25c                 740.50c 
  Sugar                    9.34c                   18.78c 
  Wheat                   517.00c                 779.50c 
  Commodity Portfolio 
   =                      100.00%                 124.14% 
 

** The Commodity constituent end values are based on an average of preceding month end prices for the underlying commodities during the calculation period.

The commodity Portfolio end value displayed above is based on an averaging of month end commodity portfolio values during the calculation period.

Payoff Profile

The table below illustrates how the final capital entitlement of the Shares might vary for different End Values of the Commodity Portfolio.

 
 Percentage change in          Redemption 
  End Value of the Commodity    Proceeds 
  Portfolio relative to 
  its Start Value 
 -100%                         100 
                              ----------- 
 -50%                          100 
                              ----------- 
 0%                            100 
                              ----------- 
 50%                           200 
                              ----------- 
 100%                          300 
                              ----------- 
 150%                          400 
                              ----------- 
 200%                          500 
                              ----------- 
 

The final return is subject to there being no counterparty default or any other unforeseen circumstances.

As at 31 January 2013 the investments held by the Company were:

 
                                                      NOMINAL 
 DEBT SECURITIES PORTFOLIO                           HOLDINGS 
                                                          GBP 
 
 Caisse Centrale du Credit Immobilier de France 
  EMTN 
 14 June 2013                                       9,050,000 
 
 Erste Bank EMTN 14 June 2013                       9,050,000 
 
 Irish Life & Permanent Plc EMTN 14 June 2013       9,050,000 
 
 Mediobanca SpA EMTN 14 June 2013                   9,050,000 
 
 SNS Bank NV EMTN 14 June 2013                      9,050,000 
 
                                                        TOTAL 
                                                          GBP 
 
                                                   45,250,000 
 

This data has been provided by Close Investments Limited. Close Investments Limited may source data from third party data providers such as, but not limited to, Bloomberg. Close Investments Limited accepts no responsibility or liability for the accuracy of data sourced from such third parties. All data in this document has been procured and may have been acted upon by Close Investments Limited for its own purpose. The results are being made available to you for information purposes only and incidentally. This data is provided purely for information purposes only and should not be relied upon.

For further information contact:

Anson Fund Managers Limited

Secretary

Tel: [phone]

E&OE - in transmission

This information is provided by RNS

The company news service from the London Stock Exchange

END

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