AIDE Aida FD Eur

 

TIDMAIDP TIDMAIDU TIDMAIDE 
 
RNS Number : 4012Y 
Aida Fund Limited 
02 September 2009 
 

The Aida Fund Limited ("Aida") 
 
 
July 2009 Final Net Asset Values 
 
 
The Net Asset Values of Aida's Shares as of 31 July 2009 are as follows: 
 
 
+------------------+------------------+------------------+------------------+ 
|                  |    US Dollar     |      Euro        |Sterling (pence)  | 
+------------------+------------------+------------------+------------------+ 
| NAV              |      1.6559      |      1.5782      |      136.53      | 
+------------------+------------------+------------------+------------------+ 
 
 
+------------------+------------------+------------------+------------------+ 
|                  |    US Dollar     |      Euro        |    Sterling      | 
+------------------+------------------+------------------+------------------+ 
| Performance      |                  |                  |                  | 
+------------------+------------------+------------------+------------------+ 
| MTD              |      0.78%       |      0.80%       |      0.73%       | 
+------------------+------------------+------------------+------------------+ 
| YTD              |      0.74%       |      2.43%       |      2.44%       | 
+------------------+------------------+------------------+------------------+ 
| Rolling 12-month |    (34.93)%      |    (35.49)%      |    (36.45)%      | 
+------------------+------------------+------------------+------------------+ 
| 5-Year           |     (8.81)%      |    (13.85)%      |     (9.31)%      | 
+------------------+------------------+------------------+------------------+ 
| 5-Year           |     (1.83)%      |     (2.94)%      |     (1.96)%      | 
| Annualised       |                  |                  |                  | 
+------------------+------------------+------------------+------------------+ 
| Since Inception  |      10.39%      |      5.21%       |     (8.98)%      | 
| (1)              |                  |                  |                  | 
+------------------+------------------+------------------+------------------+ 
 
 
(1)US$ class September 2001, Euro class June 2002 and GBP class June 2004 
 
 
These valuations, which have been prepared in good faith by Aida, are based 
principally on formal valuations supplied to Aida by the administrators of 
Aida's underlying investments. In the case where no such formal valuation has 
been received, an estimated valuation prepared by the manager or administrator 
of the underlying investments has been used. Valuations or estimates are 
unaudited and may not comply with generally accepted accounting or valuation 
principles. Other risk factors which may be relevant to this valuation are set 
out in Aida's prospectus dated 4th March 2008. 
 
 
On 31st July 2009 side pockets accounted for 7.64% of the total assets of Aida 
and 8.71% of invested assets. 
 
 
Investment Manager Comment 
During July 2009 the Aida US$ class increased by 0.78%, the underlying portfolio 
before expenses and the costs of leverage increased by 1.47%, the S&P 500 
increased by 7.41% and the FTSE 100 increased by 8.45%. 
 
 
Since inception until the end of July 2009 the Aida US$ class has risen by 
10.39%. Over the same period the S&P 500 has fallen (12.89)% and the FTSE 100 
has fallen (13.78)%. 
 
 
Of the underlying funds that Aida invests in 4 of our funds who have reported 
have declined during July whilst 14 of the funds that have reported have 
increased. 
 
 
On 17th December 2008 shareholders approved a change in the strategy of Aida to 
eliminate leverage for investment purposes.  As at the 30 June 2009 the Fund 
ceased to employ leverage for investment purposes. The fund has been debt free 
from the 17th July 2009 and has a net cash position. 
 
 
A restructuring of Aida was outlined in a circular dated 4th August 2009. At an 
EGM on the 24th August 2009 resolutions were passed to: (a) change Aida's 
investment policy; (b) adopt revised articles of incorporation to provide, 
amongst other things, for the conversion of Euro and Sterling denominated 
Ordinary Shares into US Dollar denominated Ordinary Shares; (c) change the name 
of Aida to the Aida Closed Ended Fund Limited; and (d) a capital 
reorganisation of Aida to create side pocket shares for investments which did 
not meet the investment policy criteria for new investments. 
 
 
On 28th August 2009 Aida ceased hedging of currency classes and as part of the 
restructuring of the fund Euro and Sterling share classes will be converted to 
US Dollar shares at the exchange rate prevailing on 28th August 2009. 
 
 
A prospectus for the open-ended fund and an application form to exchange shares 
in Aida for shares in the open-ended fund will shortly be sent to shareholders 
who have returned a completed Indication of Interest Form to Aida and who have 
satisfied Aida that they are eligible to invest in the open-ended fund. 
 
 
Aida Capital, the investment manager, remains available at all times to discuss 
the fund and markets in general. 
 
 
Aida Capital 
+44 20 7600 7500 
invest@aidacapital.com 
 
 
 
 
 
 
Disclaimer 
This announcement does not constitute an offer to sell, exchange or transfer any 
securities of The Aida Fund Limited and is not soliciting an offer to purchase, 
exchange or transfer such securities in any jurisdiction where the offer, sale, 
exchange or transfer is not permitted or to any person or entity to whom it is 
unlawful to make that offer, sale, exchange or transfer. 
 
 
The registration document published on 4 March 2008 of The Aida Fund Limited 
contains further details of the selling restrictions in such jurisdictions. 
 
 
This announcement is not an offer of securities for sale in the United States. 
The shares referred to herein have not been and will not be registered under the 
United States Securities Act of 1933, as amended (the "Securities Act") or with 
any securities regulatory authority of any state or other jurisdiction of the 
United States and may not be offered or sold within the United States or to, or 
for the account or benefit of, US Persons (as defined in Regulation S under the 
Securities Act) except in accordance with the Securities Act or an exemption 
therefrom. 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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