NAV and Portfolio Update

    RNS Number : 1059L
  New Star Financial Opp Fd Ltd
  05 January 2009
   

    The Directors of New Star Financial Opportunities Fund Limited today announce that the unaudited Net Asset Value per Ordinary Share
based on bid prices (excluding income from 1 December 2008) as at 31 December 2008 was 36.51 pence (including income it was 35.68 pence).

    The Company had total assets of £20.549 million and net current liabilities of £6.625 million as at 31 December 2008.

    Largest Holdings
 Holding       Stock                              Value (£)              % of Fund

   1,000,000   Santander International             956,059                 4.7%
               3.375% Bond
   8,000       Munich Re                           846,135                 4.1%
   120,000     HSBC Holdings                       794,400                 3.9%
   350,000     Personal Group Holdings             752,500                 3.7%
   750,000     Brit Insurance 8.5% ULS             742,500                 3.6%
   750,000     Investec Finance 7.75% Bond         628,275                 3.1%
   150,000     Aviva                               585,000                 2.8%
   180,000     DnB NOR                             478,284                 2.3%
   70,000      Banco Santander                     456,132                 2.2%
   3,000       Zurich Financial Services           444,619                 2.2%
   550,000     SVG Capital 8.25% CULS              436,315                 2.1%
   300,000     RSA Insurance                       414,300                 2.0%
   500,000     Intesa Sanpaolo 6.625% Bond         402,359                 2.0%
   250,000     Hansard Global                      395,000                 1.9%
   300,000     Randall & Quilter                   390,000                 1.9%
   25,000      Axa                                 382,728                 1.9%
   12,750      BNP Paribas                         371,153                 1.8%
   550,000     F&C Asset Management 6.75%          350,295                 1.7%
               Sub Bond
   450,000     Legal & General                     345,600                 1.7%
   40,000      BBVA                                334,896                 1.6%
   300,000     Barclays 14.0% RCI                  317,460                 1.5%
   450,000     Generali Finance 6.214% Bond        304,965                 1.5%
   125,000     Intesa Sanapaolo                    297,892                 1.4%
   500,000     BNP Paribas 4 7/8% Bond             291,294                 1.4%
   250,000     Alliance & Leicester 9.625%         285,250                 1.4%
               Bond
   300,000     RSA Insurance 7.375% Pref           285,000                 1.4%
   600,000     Argon 8.162% Bond                   283,320                 1.4%
   350,000     Nordea 6.25% Sub Bond               282,765                 1.4%
   200,000     International Personal              278,000                 1.4%
               Finance
   350,000     Standard Chartered 8.103%           276,325                 1.3%
               Sub Bond


  Derivatives 

               The Company has short positions equivalent to -9.2% of total assets

    Asset Allocation
 Fixed Interest            40.3%
                         
  Banks                    19.2%
                         
  General Financial         8.1%
                         
  Insurance                 7.2%
                         
  Investment Companies      3.1%
                         
  Life Assurance            2.6%
                         
  Real Estate               0.0%
                         
                         
                         
  Equities                 59.7%
                         
  Banks                    22.0%
                         
  Insurance                19.3%
                         
  Life Assurance            7.2%
                         
  General Financial         6.7%
                         
  Investment Companies      2.9%
                         
  Real Estate               1.7%

    The Company has 38,132,932 Ordinary Shares in issue.

    Enquiries to:    Elysium Fund Management Limited
        No 1 Le Truchot
        St Peter Port
        Guernsey GY1 3JX
        www.elysiumfundman.com

This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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