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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Aida FD Eur | LSE:AIDE | London | Ordinary Share | GG00B1KBGP61 | EURO ORD SHS USD0.025 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.165 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMAIDP TIDMAIDU TIDMAIDE RNS Number : 0582Z Aida Fund Limited 15 September 2009 The Aida Fund Limited ("Aida") August Estimated Net Asset Values The estimated Net Asset Values of Aida's Shares as of 28 August 2009 are as follows: +------------------+------------------+------------------+------------------+ | | US Dollar | Euro |Sterling (pence) | +------------------+------------------+------------------+------------------+ | NAV | 1.6680 | 1.5773 | 136.54 | +------------------+------------------+------------------+------------------+ +------------------+------------------+------------------+------------------+ | | US Dollar | Euro | Sterling | +------------------+------------------+------------------+------------------+ | Performance | | | | +------------------+------------------+------------------+------------------+ | MTD | 0.73% | (0.06)% | 0.01% | +------------------+------------------+------------------+------------------+ | YTD | 1.47% | 2.37% | 2.45% | +------------------+------------------+------------------+------------------+ | 5-Year | (8.44)% | (14.26)% | (9.87)% | +------------------+------------------+------------------+------------------+ These valuations, which have been prepared in good faith by Aida, are based principally on estimated valuations prepared generally by the investment manager of Aida's underlying investments. Such estimates may be subject to little verification or other due diligence, are un-audited and may not comply with generally accepted accounting or valuation principles. Other risk factors which may be relevant to this valuation are set out in Aida's prospectus dated 4th March 2008. At the end of August 2009 side pockets accounted for 7.08% of the total assets of Aida Fund and 7.85% of invested assets. Investment Manager Comment During August 2009 the Aida Fund US$ class increased by 0.73%, the underlying portfolio before leverage and expenses increased by an estimated 1.51%, the S&P 500 increased by 3.36% and the FTSE 100 increased by 6.52%. Since inception in September 2001 until the end of August 2009 the Aida Fund US$ class has risen by 11.20%, the underlying portfolio before leverage and expenses increased by an estimated 51.96%. Over the same period the S&P 500 has fallen (9.96)% and the FTSE 100 has fallen (8.16)%. Of the underlying funds that Aida invests in 1 of the funds who have reported declined whilst 18 of the funds who have reported increased. On 17th December 2008 shareholders approved a change in the strategy of Aida to eliminate leverage for investment purposes. As at the 30th June 2009 the Fund ceased to employ leverage for investment purposes. The fund has been debt free from the 17th July 2009 and currently has a net cash position. A restructuring of Aida was outlined in a circular dated 4th August 2009. At an EGM on the 24th August 2009 resolutions were passed to: (a) change Aida's investment policy; (b) adopt revised articles of incorporation to provide, amongst other things, for the conversion of Euro and Sterling denominated Ordinary Shares into US Dollar denominated Ordinary Shares; (c) change the name of Aida to the Aida Closed Ended Fund Limited; and (d) undertake a capital reorganisation of Aida to create side pocket shares for investments which did not satisfy the revised investment policy. On 28th August 2009 Aida ceased hedging of currency classes and as part of the restructuring of the fund Euro and Sterling shares will be converted to US Dollar shares at the exchange rates prevailing on 28th August 2009 which, were: * Sterling to US Dollar: GBP1:1.63111 US$ * Euro to US Dollar: EUR1:1.43735 US$ It is anticipated that by the end of September documentation will be posted to those shareholders who have returned a valid Indication of Interest Form to Aida. Aida Capital, the investment manager, remains available at all times to discuss the fund and markets in general. Aida Capital +44 20 7600 7500 Disclaimer This announcement does not constitute an offer to sell, exchange or transfer any securities of The Aida Fund Limited and is not soliciting an offer to purchase, exchange or transfer such securities in any jurisdiction where the offer, sale, exchange or transfer is not permitted or to any person or entity to whom it is unlawful to make that offer, sale, exchange or transfer. The registration document published on 4th March 2008 contains further details of the selling restrictions in such jurisdictions. This announcement is not an offer of securities for sale in the United States. The shares referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act") or with any securities regulatory authority of any state or other jurisdiction of the United States and may not be offered or sold within the United States or to, or for the account or benefit of, US Persons (as defined in Regulation S under the Securities Act) except in accordance with the Securities Act or an exemption therefrom. This information is provided by RNS The company news service from the London Stock Exchange END NAVLAMRTMMMBMFL
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