NAV and Portfolio Update

 

TIDMNST 
 
RNS Number : 7567R 
New Star Financial Opp Fd Ltd 
06 May 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 30 April 2009 was 30.38 pence 
(including income it was 29.95 pence). 
 
 
The Company had total assets of GBP18.814 million and net current liabilities of 
GBP7.229 million as at 30 April 2009. 
 
 
The Company has 38,132,932 Ordinary Shares in issue. 
 
 
Largest Holdings 
+------------+-----------------------------------+---------+--------+ 
| Holding    | Stock                             |         |  % of  | 
|            |                                   |         |  Fund  | 
+------------+-----------------------------------+---------+--------+ 
|            |                                   |         |        | 
+------------+-----------------------------------+---------+--------+ 
|   325,000  | Personal Group Holdings           | 797,875 |   4.2% | 
+------------+-----------------------------------+---------+--------+ 
|   8,149    | Munich Re                         | 760,500 |   4.0% | 
+------------+-----------------------------------+---------+--------+ 
|   750,000  | Santander International 3.375%    | 672,368 |   3.6% | 
|            | Bond                              |         |        | 
+------------+-----------------------------------+---------+--------+ 
|   150,000  | DnB NOR                           | 641,871 |   3.4% | 
+------------+-----------------------------------+---------+--------+ 
|   214,500  | Man Group                         | 543,758 |   2.9% | 
+------------+-----------------------------------+---------+--------+ 
|   316,860  | Unicredit                         | 529,588 |   2.8% | 
+------------+-----------------------------------+---------+--------+ 
|   550,000  | SVG Capital 8.25% CULS            | 436,315 |   2.3% | 
+------------+-----------------------------------+---------+--------+ 
|   131,186  | Aviva                             | 413,892 |   2.2% | 
+------------+-----------------------------------+---------+--------+ 
|   750,000  | Investec Finance 7.75% Bond       | 412,500 |   2.2% | 
+------------+-----------------------------------+---------+--------+ 
|   300,000  | RSA Insurance                     | 393,600 |   2.1% | 
+------------+-----------------------------------+---------+--------+ 
|   300,000  | Randall & Quilter                 | 390,000 |   2.1% | 
+------------+-----------------------------------+---------+--------+ 
|   750,000  | Provident Financial 7.125% Sub    | 375,000 |   2.0% | 
|            | Bond                              |         |        | 
+------------+-----------------------------------+---------+--------+ 
|   57,279   | Banco Santander                   | 372,384 |   2.0% | 
+------------+-----------------------------------+---------+--------+ 
|   500,000  | Intesa Sanpaolo 6.625% Bond       | 363,559 |   1.9% | 
+------------+-----------------------------------+---------+--------+ 
|   225,000  | Hansard Global                    | 353,250 |   1.9% | 
+------------+-----------------------------------+---------+--------+ 
|   9,222    | BNP Paribas                       | 331,934 |   1.8% | 
+------------+-----------------------------------+---------+--------+ 
|   550,000  | F&C Asset Management 6.75% Sub    | 310,676 |   1.7% | 
|            | Bond                              |         |        | 
+------------+-----------------------------------+---------+--------+ 
|   350,000  | 3i Group 3.625% CULS              | 305,004 |   1.6% | 
+------------+-----------------------------------+---------+--------+ 
|   63,609   | HSBC Holdings                     | 305,641 |   1.6% | 
+------------+-----------------------------------+---------+--------+ 
|   550,000  | Generali Finance 6.214% Bond      | 289,185 |   1.5% | 
+------------+-----------------------------------+---------+--------+ 
|   24,660   | Axa                               | 280,836 |   1.5% | 
+------------+-----------------------------------+---------+--------+ 
|   700,000  | Kensington Group 9% Bond          | 280,000 |   1.5% | 
+------------+-----------------------------------+---------+--------+ 
|   25,850   | Standard Chartered                | 272,459 |   1.5% | 
+------------+-----------------------------------+---------+--------+ 
|   800,000  | Prudential Finance 6.5% Sub Bond  | 265,893 |   1.4% | 
+------------+-----------------------------------+---------+--------+ 
|   250,000  | Liontrust Asset Management        | 263,750 |   1.4% | 
+------------+-----------------------------------+---------+--------+ 
|   2,054    | Zurich Financial Services         | 260,682 |   1.4% | 
+------------+-----------------------------------+---------+--------+ 
|   175,000  | International Personal Finance    | 255,063 |   1.4% | 
+------------+-----------------------------------+---------+--------+ 
|   500,000  | BNP Paribas 4 7/8% Bond           | 252,627 |   1.3% | 
+------------+-----------------------------------+---------+--------+ 
|   300,000  | RSA Insurance 7.375% Pref         | 250,500 |   1.3% | 
+------------+-----------------------------------+---------+--------+ 
|   350,000  | Standard Chartered 8.103% Sub     | 248,780 |   1.3% | 
|            | Bond                              |         |        | 
+------------+-----------------------------------+---------+--------+ 
|            |                                   |         |        | 
+------------+-----------------------------------+---------+--------+ 
|  Derivatives                                   |         |        | 
+------------------------------------------------+---------+--------+ 
|            |                                   |         |        | 
+------------+-----------------------------------+---------+--------+ 
|            | The Company has short positions equivalent to -10.5% | 
|            | of total assets                                      | 
+------------+-----------------------------------+---------+--------+ 
 
 
Asset Allocation 
+------------------------------------------+--+--------+ 
| Fixed Interest                              |  36.7% | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Banks                                   |  |  15.1% | 
+------------------------------------------+--+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  General Financial                          |   9.9% | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Insurance                               |  |   4.8% | 
+------------------------------------------+--+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Life Assurance                             |   3.5% | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Investment Companies                       |   3.4% | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Real Estate                             |  |   0.0% | 
+------------------------------------------+--+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Equities                                |  |  63.3% | 
+------------------------------------------+--+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Banks                                   |  |  23.9% | 
+------------------------------------------+--+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Insurance                               |  |  20.7% | 
+------------------------------------------+--+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  General Financial                          |   9.3% | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Life Assurance                             |   5.8% | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Investment Companies                       |   1.9% | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Real Estate                             |  |   1.7% | 
+------------------------------------------+--+--------+ 
 
 
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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