NAV and Portfolio Update

 

TIDMNST 
 
RNS Number : 7647M 
New Star Financial Opp Fd Ltd 
04 February 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 January 2009 was 29.74 pence 
(including income it was 29.12 pence). 
 
 
The Company had total assets of GBP17.182 million and net current liabilities of 
GBP5.843 million as at 31 January 2009. 
 
 
The Company has 38,132,932 Ordinary Shares in issue. 
 
 
Largest Holdings 
+------------+--------------------------------+--------------+--------+ 
| Holding    | Stock                          | Value (GBP)  |  % of  | 
|            |                                |              |  Fund  | 
+------------+--------------------------------+--------------+--------+ 
|            |                                |              |        | 
+------------+--------------------------------+--------------+--------+ 
|   325,000  | Personal Group Holdings        |   773,500    |   4.5% | 
+------------+--------------------------------+--------------+--------+ 
|   8,000    | Munich Re                      |   737,849    |   4.3% | 
+------------+--------------------------------+--------------+--------+ 
|   750,000  | Santander International 3.375% |   665,133    |   3.9% | 
|            | Bond                           |              |        | 
+------------+--------------------------------+--------------+--------+ 
|   120,000  | HSBC Holdings                  |   651,900    |   3.8% | 
+------------+--------------------------------+--------------+--------+ 
|   750,000  | Investec Finance 7.75% Bond    |   637,800    |   3.7% | 
+------------+--------------------------------+--------------+--------+ 
|   150,000  | Aviva                          |   468,000    |   2.7% | 
+------------+--------------------------------+--------------+--------+ 
|   300,000  | RSA Insurance                  |   395,000    |   2.3% | 
+------------+--------------------------------+--------------+--------+ 
|   70,000   | Banco Santander                |   393,244    |   2.3% | 
+------------+--------------------------------+--------------+--------+ 
|   300,000  | Randall & Quilter              |   390,000    |   2.3% | 
+------------+--------------------------------+--------------+--------+ 
|   550,000  | SVG Capital 8.25% CULS         |   385,000    |   2.2% | 
+------------+--------------------------------+--------------+--------+ 
|   3,000    | Zurich Financial Services      |   376,300    |   2.2% | 
+------------+--------------------------------+--------------+--------+ 
|   250,000  | Hansard Global                 |   368,750    |   2.1% | 
+------------+--------------------------------+--------------+--------+ 
|   500,000  | Intesa Sanpaolo 6.625% Bond    |   368,578    |   2.1% | 
+------------+--------------------------------+--------------+--------+ 
|   150,000  | DnB NOR                        |   353,017    |   2.1% | 
+------------+--------------------------------+--------------+--------+ 
|   550,000  | F&C Asset Management 6.75% Sub |   302,500    |   1.8% | 
|            | Bond                           |              |        | 
+------------+--------------------------------+--------------+--------+ 
|   300,000  | RSA Insurance 7.375% Pref      |   280,500    |   1.6% | 
+------------+--------------------------------+--------------+--------+ 
|   450,000  | Legal & General                |   277,200    |   1.6% | 
+------------+--------------------------------+--------------+--------+ 
|   250,000  | Alliance & Leicester 9.625%    |   273,250    |   1.6% | 
|            | Bond                           |              |        | 
+------------+--------------------------------+--------------+--------+ 
|   25,000   | Axa                            |   271,444    |   1.6% | 
+------------+--------------------------------+--------------+--------+ 
|   125,000  | Intesa Sanpaolo                |   270,556    |   1.6% | 
+------------+--------------------------------+--------------+--------+ 
|   350,000  | 3i Group 3.625% CULS           |   269,815    |   1.6% | 
+------------+--------------------------------+--------------+--------+ 
|   10,000   | BNP Paribas                    |   266,711    |   1.6% | 
+------------+--------------------------------+--------------+--------+ 
|   800,000  | Prudential Finance 6.5% Sub    |   266,075    |   1.5% | 
|            | Bond                           |              |        | 
+------------+--------------------------------+--------------+--------+ 
|   40,000   | BBVA                           |   260,622    |   1.5% | 
+------------+--------------------------------+--------------+--------+ 
|   350,000  | Nordea 6.25% Sub Bond          |   257,530    |   1.5% | 
+------------+--------------------------------+--------------+--------+ 
|   200,000  | International Personal Finance |   256,000    |   1.5% | 
+------------+--------------------------------+--------------+--------+ 
|   600,000  | SL 5.314% Bond                 |   255,520    |   1.5% | 
+------------+--------------------------------+--------------+--------+ 
|   300,000  | Barclays 14.0% RCI             |   247,500    |   1.4% | 
+------------+--------------------------------+--------------+--------+ 
|   500,000  | Axa 6.772% Bond                |   240,500    |   1.4% | 
+------------+--------------------------------+--------------+--------+ 
|   750,000  | Provident Financial 7.125% Sub |   240,000    |   1.4% | 
|            | Bond                           |              |        | 
+------------+--------------------------------+--------------+--------+ 
|            |                                |              |        | 
+------------+--------------------------------+--------------+--------+ 
|  Derivatives                                |              |        | 
+---------------------------------------------+--------------+--------+ 
|            |                                |              |        | 
+------------+--------------------------------+--------------+--------+ 
|            | The Company has short positions equivalent to -9.1% of | 
|            | total assets                                           | 
+------------+--------------------------------+--------------+--------+ 
 
 
Asset Allocation 
+------------------------------------------+--+--------+ 
| Fixed Interest                              |  39.0% | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Banks                                   |  |  17.4% | 
+------------------------------------------+--+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  General Financial                          |   9.7% | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Insurance                               |  |   5.5% | 
+------------------------------------------+--+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Investment Companies                       |   3.5% | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Life Assurance                             |   3.0% | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Real Estate                             |  |   0.0% | 
+------------------------------------------+--+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Equities                                |  |  61.0% | 
+------------------------------------------+--+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Insurance                               |  |  21.4% | 
+------------------------------------------+--+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Banks                                   |  |  20.3% | 
+------------------------------------------+--+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  General Financial                          |   7.7% | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Life Assurance                             |   7.3% | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Investment Companies                       |   3.0% | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Real Estate                             |  |   1.2% | 
+------------------------------------------+--+--------+ 
 
 
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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