NAV and Portfolio Update

 

TIDMNST 
 
RNS Number : 2900T 
New Star Financial Opp Fd Ltd 
03 June 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 May 2009 was 32.38 pence 
(including income it was 32.27 pence). 
 
 
The Company had total assets of GBP20.001 million and net current liabilities of 
GBP7.653 million as at 31 May 2009. 
 
 
Largest Holdings 
+---------+-----------------------------------+--------------+--------+ 
| Holding | Stock                             |    Value     |  % of  | 
|         |                                   |     GBP      |  Fund  | 
+---------+-----------------------------------+--------------+--------+ 
|         |                                   |              |        | 
+---------+-----------------------------------+--------------+--------+ 
|         |                                   |              |        | 
+---------+-----------------------------------+--------------+--------+ 
| 196488  | HSBC Holdings                     |1,093,455.72  | 5.47%  | 
+---------+-----------------------------------+--------------+--------+ 
| 325000  | Personal Group Holdings           |  827,125.00  | 4.14%  | 
+---------+-----------------------------------+--------------+--------+ 
| 150000  | DnB NOR                           |  768,916.07  | 3.84%  | 
+---------+-----------------------------------+--------------+--------+ 
| 750000  | Santander International 3.375%    |  661,751.15  | 3.31%  | 
|         | Bond                              |              |        | 
+---------+-----------------------------------+--------------+--------+ 
|  23818  | Julius Baer                       |  619,930.03  | 3.10%  | 
+---------+-----------------------------------+--------------+--------+ 
|  2444   | Banque Cantonale Vaudoise         |  579,485.38  | 2.90%  | 
+---------+-----------------------------------+--------------+--------+ 
| 154895  | Aviva                             |  518,123.78  | 2.59%  | 
+---------+-----------------------------------+--------------+--------+ 
| 750000  | Investec Finance 7.75% Bond       |  451,725.00  | 2.26%  | 
+---------+-----------------------------------+--------------+--------+ 
|  5066   | Munich Re                         |  436,540.90  | 2.18%  | 
+---------+-----------------------------------+--------------+--------+ 
| 550000  | SVG Capital 8.25% CULS            |  436,315.00  | 2.18%  | 
+---------+-----------------------------------+--------------+--------+ 
| 487961  | Sberbank                          |  428,181.96  | 2.14%  | 
+---------+-----------------------------------+--------------+--------+ 
| 500000  | Intesa Sanpaolo 6.625% Bond       |  420,144.83  | 2.10%  | 
+---------+-----------------------------------+--------------+--------+ 
| 750000  | Provident Financial 7.125% Sub    |  411,000.00  | 2.05%  | 
|         | Bond                              |              |        | 
+---------+-----------------------------------+--------------+--------+ 
| 300000  | Randall & Quilter                 |  384,000.00  | 1.92%  | 
+---------+-----------------------------------+--------------+--------+ 
| 700000  | Kensington Group 9% Bond          |  350,000.00  | 1.75%  | 
+---------+-----------------------------------+--------------+--------+ 
| 550000  | Generali Finance 6.214% Bond      |  345,610.65  | 1.73%  | 
+---------+-----------------------------------+--------------+--------+ 
|  8379   | Deutsche Bank                     |  343,838.71  | 1.72%  | 
+---------+-----------------------------------+--------------+--------+ 
| 269072  | RSA Insurance                     |  337,685.36  | 1.69%  | 
+---------+-----------------------------------+--------------+--------+ 
| 149876  | Marfin Popular                    |  335,469.65  | 1.68%  | 
+---------+-----------------------------------+--------------+--------+ 
| 350000  | 3i Group 3.625% CULS              |  318,500.00  | 1.59%  | 
+---------+-----------------------------------+--------------+--------+ 
| 225000  | Hansard Global                    |  307,125.00  | 1.54%  | 
+---------+-----------------------------------+--------------+--------+ 
| 350000  | Standard Chartered 8.103% Sub     |  296,415.00  | 1.48%  | 
|         | Bond                              |              |        | 
+---------+-----------------------------------+--------------+--------+ 
|  23422  | Standard Chartered                |  293,946.10  | 1.47%  | 
+---------+-----------------------------------+--------------+--------+ 
| 500000  | BNP Paribas 4 7/8% Bond           |  284,924.29  | 1.42%  | 
+---------+-----------------------------------+--------------+--------+ 
| 550000  | F&C Asset Management 6.75% Sub    |  283,085.00  | 1.42%  | 
|         | Bond                              |              |        | 
+---------+-----------------------------------+--------------+--------+ 
| 800000  | Prudential Finance 6.5% Sub Bond  |  276,828.63  | 1.38%  | 
+---------+-----------------------------------+--------------+--------+ 
| 500000  | Axa 6.772% Bond                   |  268,400.00  | 1.34%  | 
+---------+-----------------------------------+--------------+--------+ 
| 300000  | RSA Insurance 7.375% Pref         |  264,000.00  | 1.32%  | 
+---------+-----------------------------------+--------------+--------+ 
| 600000  | SL 5.314% Bond                    |  255,905.20  | 1.28%  | 
+---------+-----------------------------------+--------------+--------+ 
|  4612   | Deutsche Boerse                   |  247,673.61  | 1.24%  | 
+---------+-----------------------------------+--------------+--------+ 
|         |                                   |              |        | 
+---------+-----------------------------------+--------------+--------+ 
|  Derivatives                                |              |        | 
+---------------------------------------------+--------------+--------+ 
|         |                                   |              |        | 
+---------+-----------------------------------+--------------+--------+ 
|         | The Company has short positions equivalent to -10.2%      | 
|         | of total assets                                           | 
+---------+-----------------------------------+--------------+--------+ 
 
 
Asset Allocation 
+------------------------------------------+--+--------+ 
| Fixed Interest                              |  37.6% | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Banks                                   |  |  16.1% | 
+------------------------------------------+--+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  General Financial                          |   9.3% | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Insurance                               |  |   5.1% | 
+------------------------------------------+--+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Life Assurance                             |   3.8% | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Investment Companies                       |   3.3% | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Real Estate                             |  |   0.0% | 
+------------------------------------------+--+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Equities                                |  |  62.5% | 
+------------------------------------------+--+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Banks                                   |  |  29.0% | 
+------------------------------------------+--+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Insurance                               |  |  15.6% | 
+------------------------------------------+--+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  General Financial                          |   7.6% | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Life Assurance                             |   6.0% | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Investment Companies                       |   1.9% | 
+---------------------------------------------+--------+ 
|                                          |  |        | 
+------------------------------------------+--+--------+ 
|  Real Estate                             |  |   2.4% | 
+------------------------------------------+--+--------+ 
 
 
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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