LONDON, December 17 /PRNewswire-FirstCall/ -- Tetragon Financial Group Limited (TFG) is a Guernsey closed-ended investment convention traded on Euronext Amsterdam by NYSE Euronext under the ticker brand "TFG". In this monthly update, unless otherwise stated, we dispatch on the consolidated task incorporating TFG and Tetragon Financial Group Master Fund Limited. (1) Net Asset Value Estimates as of November 30, 2008 (Amounts provided are unaudited and cause to change) (in millions leave out per apportionment data) Estimated Fair Value of Investments: $1,271.4 Cash and Cash Equivalents: $166.7 Net Other Assets/ (Liabilities): (2) $(102.4) Estimated Net Asset Value: $1,335.7 TFG Shares Outstanding: 128.8 Net Asset Value per Share: (3) $10.57 --------------------------------- (1) TFG invests at bottom all its initial through a head honcho fund, Tetragon Financial Group Master Fund Limited ("TFGMF"), in which it holds a 100.0% share. (2) As of November 30, 2008 TFG had no snare borrowings (cash and amounts due from brokers exceeded compute borrowings). (3) Excludes 2.5 million shares held in treasury.
Portfolio Composition Portfolio Held by Tetragon Financial Group Master Fund Limited (unless otherwise stated) As of November 30, 2008 Report Date TFG TFG TFG aggregation Net No. of Closed CLO Share club Assets ($MM) Transactions Price Market ($) Cap ($MM)(1) 30 November 2008 $3.19 $411.0 $1,335.7 61(2) Capital Allocation Risk Investment- Investment- Overall by Asset Class Capital Amortized Amortized Leverage(5) Allocation Cost Cost B/Fwd ($MM)(3) ($MM)(4) Broadly Syndicated Senior 64.2% $816.0 $800.3 Secured Loans: US Broadly Syndicated Senior 19.8% $252.1 $244.8 Secured Loans: Europe Middle Market Senior 16.0% $203.3 $198.4 Secured Loans: US CDOs Squared: 0.0% $0.0 $0.0 US ABS and 0.0% $0.0 $0.0 Structured Finance: US Total 100.0% $1,271.4 $1,243.5 0.93 Geographic USA Europe Asia Total Allocation by Asset Pacific Class Broadly Syndicated 76.4% 23.6% 0.0% 100.0% Senior Secured Loans Middle Market Senior 100.0% 0.0% 0.0% 100.0% Secured Loans CDOs 0.0% 0.0% 0.0% 0.0% Squared ABS and 0.0% 0.0% 0.0% 0.0% Structured Finance 80.2% 19.8% 0.0% 100.0% Top 15 Underlying Bank Loan Bank Loan Credits Exposure (6) HCA Inc 0.85% Georgia Pacific 0.85% Corp Community 0.79% Health TXU Corp 0.78% Idearc 0.74% Univision 0.74% Communications Cablevision 0.61% Systems Corp Aramark 0.56% Corp Freescale 0.54% Semiconductor Inc Ineos Group Plc 0.53% Nielsen Company 0.53% SunGard Data 0.51% Systems Inc First 0.50% Data Corp Mylan 0.49% Laboratories OshKosh Truck 0.48% EUR-USD FX: 1.27 (1) Calculated using TFG shares on-going and month end quarrel price. (2) Excludes CDO-squared and ABS CDO transactions which were written off in October 2007.
TFG continues to hold the fiscal rights to these written-off transactions. (3) Equivalent to Investment in Securities at Fair Value in the US GAAP Financial Statements. (4) Investments at Amortized Cost less involvement accrued since aftermost pay date.
Internal Rate of Return (IRR) x Amortized Cost B/Fwd determines CDO income. (5) Equals CDO Amortized Cost BFwd / Book Value. (6) Calculated as a portion of aggregate corporate advance assets that TFG has publication to based on its equity-based pro-rata appropriate of each CLO's whole portfolio (net of any unique honour CDS hedges held against that credit). Tetragon Financial Group Limited (TFG) Monthly Update For November 2008 Expected Upcoming Events Date December 2008 Monthly Report January 28, 2009 (approx) January 2009 Monthly Report February 17, 2009 (approx) 2008 audited economic statements reported February 27, 2009 This publicity release does not repress or constitute an propose to over or a solicitation of an forth to advantage securities in the United States or any other jurisdiction.
The securities of TFG have not been and will not be registered under the US Securities Act of 1933 (the "Securities Act"), as amended, and may not be offered or sold in the United States or to US persons unless they are registered under relevant statute or spared from registration. TFG does not design to note any percentage of its securities in the United States or to channel a free advance of securities in the United States. In addition, TFG has not been and will not be registered under the US Investment Company Act of 1940, and investors will not be entitled to the benefits of such Act.
TFG is registered in the celebrated journal of the Netherlands Authority for the Financial Markets under Section 1:107 of the Financial Markets Supervision Act as a collective investment approach from a designated country.
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