Blue Capital Alternative Income Fd Net Asset Value(s) (2009R)

TIDMBCAI

RNS Number : 2009R

Blue Capital Alternative Income Fd

19 September 2017

Blue Capital Alternative Income Fund Limited (the "Company") (Ticker: "BCAI")

19 September 2017

Net Asset Value, August 2017

As at the close of business on 31 August 2017, the unaudited net asset value of the Company's Ordinary Shares is as follows:

 
               Unaudited NAV         August   Year-to-Date 
              31 August 2017    Performance    Performance 
 Ordinary 
  Shares             $1.1117          0.45%          3.12% 
 

The net asset value of the Company's Ordinary Shares at 31 August 2017 reflects the impact of Hurricane Harvey which made landfall near Corpus Christi, Texas on 25 August 2017. The estimate for losses incurred from Hurricane Harvey, net of recoveries from reinstatement premiums, amounted to 2.4% of the opening net asset value for Ordinary Shares in August. The Company's loss estimates have been derived from the utilization of proprietary catastrophe modeling, standard industry models, an in-depth review of in-force contracts and initial indications from clients and brokers. The actual losses from this event may ultimately differ materially from estimated losses due to the nature of the risks assumed, the complexity of the assessment of damages and the limited number of reported claims received to date.

In accordance with the Circular of the Company dated 4 November 2016, the Company's administrator has calculated the estimated Net Asset Value per Redemption Share as at the close of business on 31 August 2017.

As announced on 26 July 2017, an amount equal to US$8,122,646 is expected to be distributed to shareholders of the Company who participated in the Tender Offer in consideration for the second partial redemption of Redemption Shares on or before 29 September 2017. Such amount will be distributed to shareholders pro rata to their holdings of Redemption Shares, and their holdings of Redemption Shares will be reduced accordingly based on the value stated below. In respect of further redemptions, holders of the Redemption Shares should note that the value below is included purely to provide an indication of the potential redemption proceeds yet to be paid for each remaining Redemption Share. The actual proceeds that will be paid may differ from the amount indicated below as a result of, inter alia, the future performance of the portfolio attributable to the Redemption Shares and the deduction of any applicable costs.

 
                 Unaudited NAV 
                31 August 2017 
 Redemption 
  Shares               $1.1117 
 

For more information about the Company, including access to the Company's monthly Fact Sheets, please visit our website at www.bcai.bm.

Enquiries:

 
Blue Capital Management 
 Ltd. 
 Michael J. McGuire                        [phone] 
Email: [e-mail] 
 
Stifel Nicolaus Europe 
 Limited                                   [phone] 
Neil Winward 
Mark Bloomfield 
Tunga Chigovanyika 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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September 19, 2017 10:59 ET (14:59 GMT)