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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Goldman D GBP | LSE:GSDO | London | Ordinary Share | GB00B8L0V788 | ORD NPV GBP |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 75.625 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMGSDO TIDMTTM
RNS Number : 0800U
Goldman Sachs Dynamic Opportunities
20 December 2012
WEEKLY NAV ESTIMATE
Goldman Sachs Dynamic Opportunities Limited (the "Company")
Estimated Net Asset Value and Performance Data*
As at the close of business on 18 December 2012, the estimated net asset value and performance of the Company's shares are as follows:
Share class Net Asset WTD MTD YTD Value performance performance performance GBP Shares 102.42 pence (1.06)% (1.60)% (3.21)% US$ Shares (unlisted) US$ 2.0161 (0.18)% (0.25)% 2.57%
*IMPORTANT NOTES
1. Calculation of Net Asset Value
This estimate of the Company's net asset value, which has been prepared in good faith by the Company's administrator, is for information only. Save as set forth below, it is determined based upon the latest available valuations (or estimated valuations) provided, directly or indirectly, by the Company's underlying investment managers ("Advisors"). Please note that the listing of the US$ Shares was cancelled on 1 August 2011.
2. Calculation of Performance Data
Set out above are the estimated week to date ("WTD"), estimated month to date ("MTD") and estimated calendar year to date ("YTD") performance figures. The WTD performance figure is calculated by reference to the previously published estimated NAV. The MTD performance figure is calculated by reference to the previous month's estimated NAV as published or, if published, the previous month's final NAV. The YTD performance figure is calculated by reference to the NAV at the end of the last calendar year.
The Company's currency hedging arrangements, which were in place only for its GBP Shares (through the use of rolling forward foreign exchange contracts) were terminated with effect from 17 January 2012. As a result, the GBP Shares' performance figures as set out above reflect currency movements for GBP against the US$ as well as net performance of the underlying portfolio investments net of the Company's fees and expenses. Changes in the value of GBP against the US$ may result in significant differences between GBP Shares performance figures when compared to those of the US$ Shares. The US$ Share performance figures reflect the Company's underlying portfolio return net of the Company's fees and expenses.
3. ERISA
The articles of association of the Company prohibit any purchase or acquisition of shares by or on behalf of or for the benefit of an ERISA plan or benefit plan investor subject to similar laws (a "Plan Investor"), and incorporate provisions whereby purported purchases of shares by or on behalf of or for the benefit of an ERISA plan or Plan Investor will not operate to confer any interest or rights whatsoever in such shares in favour of an ERISA plan or Plan Investor, but instead will take effect as a trust for redemption in favour of the Company and the Company will subsequently purchase or redeem such shares, which purchase or redemption may take place at an amount per share which is less than the price paid by an ERISA plan or Plan Investor on the purported acquisition.
4. For the Attention of United States Residents
The shares may not be offered or sold within the United States or to, or for the account or benefit of, US Persons (as defined in the Regulation S under the Securities Act of 1933 or any person who would not be considered a Non-US person under Rule 4.7 of the United States Commodity Exchange Act).
5. Investment Policy
At an extraordinary general meeting of the shareholders on 13 December 2011 the Company's investment objective was amended to reflect the objective of realising its investments in an orderly fashion and subsequently returning capital to shareholders. Therefore, the Company will not make any new investments (other than cash and near cash equivalent securities).
The Company's assets have been allocated (directly or indirectly) to a relatively concentrated portfolio of advisors (or entities managed by them) selected by the Company's investment manager. Such advisors employ alternative investment strategies in one or more of the event driven, tactical trading, equity long/short and relative value sectors.
There can be no assurance that the Company will achieve its investment objective or that it will be able to continue to implement its investment policy, or that the portfolio design, risk monitoring and hedging strategies (if any) of the Company will be successful.
6. Notes on Estimated Valuation
Certain securities or other assets in which the Advisors invest may not be readily realisable or have a readily ascertainable market price or may otherwise be extremely difficult to value and will be priced by the Advisors.
The Company may not have received valuations (or estimated valuations) from Advisors on a timely or current basis, and may not have received valuations at all. In order to arrive at the net asset value, the Company will generally use the latest available valuations (or estimated valuations) provided, directly or indirectly, by the Advisors. Valuations (or estimated valuations) received by the Company may be unaudited or may be subject to little verification or other due diligence and may not comply with generally accepted accounting practices or other valuation principles. Such estimates and valuations may not be considered "independent" or may be subject to potential conflicts of interest. Further such valuations may take no account of any limited rights, lock-ups or other restrictions attached to those investments.
In addition, neither the Company's administrator nor its Investment Manager will generally have sufficient information to be able to independently confirm or review the completeness, genuineness or accuracy of the Advisors' valuations (or estimated valuations). In certain circumstances as set out in the Company's prospectus dated 2 May 2008, including if the Investment Manager determines, in its sole discretion, that a valuation is inaccurate or incomplete, the Investment Manager may, in its sole discretion, determine the fair value of the Company's interests independently of the Advisor's valuations based on information available to, and factors deemed relevant (at its sole discretion) by, the Investment Manager at the time of such valuation. As stated in the prospectus, no reliance should be placed on any weekly valuations.
Other risk factors which may be relevant to this estimated valuation are set out in the Company's prospectus dated 2 May 2008.
As a result of these factors, the actual value of the Company's assets may be materially different from this published estimated value. In the event that an estimated valuation subsequently proves to be incorrect, no adjustment to a previously published estimated valuation is expected to be made nor would compensation be payable.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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