NAV and Portfolio Update

 

TIDMNST 
 
RNS Number : 2529O 
New Star Financial Opp Fd Ltd 
03 March 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 28 February 2009 was 26.67 pence 
(including income it was 26.24 pence). 
 
 
The Company had total assets of GBP15.164 million and net current liabilities of 
GBP4.992 million as at 28 February 2009. 
 
 
The Company has 38,132,932 Ordinary Shares in issue. 
 
 
Largest Holdings 
+------------+--------------------------------+--------------+--------+ 
| Holding    | Stock                          | Value (GBP)  |  % of  | 
|            |                                |              |  Fund  | 
+------------+--------------------------------+--------------+--------+ 
|            |                                |              |        | 
+------------+--------------------------------+--------------+--------+ 
|   325,000  | Personal Group Holdings        |   763,750    |  5.0%  | 
+------------+--------------------------------+--------------+--------+ 
|   8,000    | Munich Re                      |   692,537    |  4.6%  | 
+------------+--------------------------------+--------------+--------+ 
|   750,000  | Santander International 3.375% |   667,365    |  4.4%  | 
|            | Bond                           |              |        | 
+------------+--------------------------------+--------------+--------+ 
|   120,000  | HSBC Holdings                  |   589,500    |  3.9%  | 
+------------+--------------------------------+--------------+--------+ 
|   750,000  | Investec Finance 7.75% Bond    |   525,000    |  3.5%  | 
+------------+--------------------------------+--------------+--------+ 
|   300,000  | RSA Insurance                  |   413,100    |  2.7%  | 
+------------+--------------------------------+--------------+--------+ 
|   300,000  | Randall & Quilter              |   390,000    |  2.6%  | 
+------------+--------------------------------+--------------+--------+ 
|   150,000  | DnB NOR                        |   382,845    |  2.5%  | 
+------------+--------------------------------+--------------+--------+ 
|   130,000  | Aviva                          |   375,700    |  2.5%  | 
+------------+--------------------------------+--------------+--------+ 
|   550,000  | SVG Capital 8.25% CULS         |   357,500    |  2.4%  | 
+------------+--------------------------------+--------------+--------+ 
|   500,000  | Intesa Sanpaolo 6.625% Bond    |   352,818    |  2.3%  | 
+------------+--------------------------------+--------------+--------+ 
|   225,000  | Hansard Global                 |   343,688    |  2.3%  | 
+------------+--------------------------------+--------------+--------+ 
|   70,000   | Banco Santander                |   305,636    |  2.0%  | 
+------------+--------------------------------+--------------+--------+ 
|   3,000    | Zurich Financial Services      |   301,174    |  2.0%  | 
+------------+--------------------------------+--------------+--------+ 
|   250,000  | Alliance & Leicester 9.625%    |   283,433    |  1.9%  | 
|            | Bond                           |              |        | 
+------------+--------------------------------+--------------+--------+ 
|   300,000  | RSA Insurance 7.375% Pref      |   268,500    |  1.8%  | 
+------------+--------------------------------+--------------+--------+ 
|   550,000  | Generali Finance 6.214% Bond   |   248,453    |  1.6%  | 
+------------+--------------------------------+--------------+--------+ 
|   550,000  | F&C Asset Management 6.75% Sub |   245,829    |  1.6%  | 
|            | Bond                           |              |        | 
+------------+--------------------------------+--------------+--------+ 
|   500,000  | Axa 6.772% Bond                |   242,933    |  1.6%  | 
+------------+--------------------------------+--------------+--------+ 
|   10,000   | BNP Paribas                    |   242,326    |  1.6%  | 
+------------+--------------------------------+--------------+--------+ 
|   350,000  | Nordea 6.25% Sub Bond          |   241,850    |  1.6%  | 
+------------+--------------------------------+--------------+--------+ 
|   750,000  | Provident Financial 7.125% Sub |   240,000    |  1.6%  | 
|            | Bond                           |              |        | 
+------------+--------------------------------+--------------+--------+ 
|   350,000  | 3i Group 3.625% CULS           |   234,689    |  1.5%  | 
+------------+--------------------------------+--------------+--------+ 
|   350,000  | Standard Chartered 8.103% Sub  |   234,519    |  1.5%  | 
|            | Bond                           |              |        | 
+------------+--------------------------------+--------------+--------+ 
|   350,000  | THB Group                      |   234,500    |  1.5%  | 
+------------+--------------------------------+--------------+--------+ 
|   250,000  | Intesa Sanpaolo 6.25% Bond     |   229,539    |  1.5%  | 
+------------+--------------------------------+--------------+--------+ 
|   125,000  | Intesa Sanapaolo               |   214,413    |  1.4%  | 
+------------+--------------------------------+--------------+--------+ 
|   250,000  | Liontrust Asset Management     |   212,500    |  1.4%  | 
+------------+--------------------------------+--------------+--------+ 
|   700,000  | Kensington Group 9% Bond       |   210,000    |  1.4%  | 
+------------+--------------------------------+--------------+--------+ 
|   399,000  | Witan Inv Co 3.4% Pref         |   209,475    |  1.4%  | 
+------------+--------------------------------+--------------+--------+ 
|            |                                |              |        | 
+------------+--------------------------------+--------------+--------+ 
|  Derivatives                                |              |        | 
+---------------------------------------------+--------------+--------+ 
|            |                                |              |        | 
+------------+--------------------------------+--------------+--------+ 
|            | The Company has short positions equivalent to -10.6%   | 
|            | of total assets                                        | 
+------------+--------------------------------+--------------+--------+ 
 
 
Asset Allocation 
+------------------------------------------+--+--------+ 
| Fixed Interest                              | 40.2%  | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Banks                                   |  | 18.1%  | 
+------------------------------------------+--+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  General Financial                          |  9.6%  | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Insurance                               |  |  6.3%  | 
+------------------------------------------+--+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Investment Companies                       |  3.7%  | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Life Assurance                             |  2.4%  | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Real Estate                             |  |  0.0%  | 
+------------------------------------------+--+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Equities                                |  | 59.8%  | 
+------------------------------------------+--+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Insurance                               |  | 23.0%  | 
+------------------------------------------+--+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Banks                                   |  | 18.8%  | 
+------------------------------------------+--+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  General Financial                          |  6.7%  | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Life Assurance                             |  6.6%  | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Investment Companies                       |  3.4%  | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Real Estate                             |  |  1.3%  | 
+------------------------------------------+--+--------+ 
 
 
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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