Volta Finance Ld Volta Finance Limited - Amended Nav Announcement Date And Change Of Pricing Source

Data : 08/07/2019 @ 16:15
Fonte : UK Regulatory (RNS & others)
Titolo : Volta Finance Limited (VTA)
Quotazione : 6.56  0.01 (0.15%) @ 15:12
Quotazione Volta Finance Grafico

Volta Finance Ld Volta Finance Limited - Amended Nav Announcement Date And Change Of Pricing Source

 
TIDMVTA 
 
   8 July 2019 
 
   Volta Finance Limited (VTA / VTAS) 
 
   AMENDED NAV ANNOUNCEMENT DATE AND CHANGE OF PRICING SOURCE 
 
   Hitherto, the Company has issued a formal Net Asset Value ("NAV") around 
15 business days after month end, with an earlier Estimated NAV from the 
Investment Manager. 
 
   Henceforth, and with effect from the NAV for 30th June 2019, the Company 
will issue one NAV per month, around 8 to 10 business days after month 
end. 
 
   This is feasible because the Company will, from 30th June 2019, use 
independent third party pricing vendor JP Morgan PricingDirect as 
pricing source for all CLO equity positions.  Until now, the Company has 
used JP Morgan PricingDirect as pricing source solely for CLO debt 
tranches, with CLO equity positions priced using multiple broker marks 
which took time to receive and collate. 
 
   Having reviewed the reliability of the new pricing source, the Board 
believe that this change should lead to greater transparency of pricing 
and quicker release of the NAV. 
 
   Following this change, and based on current portfolio allocations, 
around 76% of the total portfolio will be priced using JP Morgan 
PricingDirect with around 7% based on net asset values from underlying 
funds and 12% based on other valuation methodologies.  The balance of 
the Company's assets are in cash. 
 
   For further information, please contact: 
 
   Company Secretary and Administrator 
 
   BNP Paribas Securities Services S.C.A, Guernsey Branch 
 
   https://www.globenewswire.com/Tracker?data=ogjhUl_6ihCUmuBfJte9Feh2bv5bpFeJjtlZG7FXctxxMDB1_TUVvVVuhKIITEm2o6uJvF3s2j98PDxew2weMRFUklfrmyGvTX3CtZ1i8dS76T3L0KRJuNFp15XJLMbRp7AneRQ4k9cuO7_SOkM1Dw== 
guernsey.bp2s.volta.cosec@bnpparibas.com 
 
   +44 (0) 1481 750 853 
 
   Corporate Broker 
 
   Cenkos Securities plc 
 
   Sapna Shah 
 
   Andrew Worne 
 
   +44 (0) 20 7397 8900 
 
   For the Investment Manager 
 
   AXA Investment Managers Paris 
 
   Serge Demay 
 
   https://www.globenewswire.com/Tracker?data=DQoIXCWAKG8IeBCqXzf1Il9gYOgC3f28v6hDzcf8odMREPeh6XQF-30ZQ8pFQ4JeDO0Nb1do-QJ3wrHZ9adlFIpMed8wUXS5QHNR5a1ZUhwfa-1nh3xHT3dtq8zzav0WqGDIa6Pufbp6YnAp9AsxhuS5gEGSajNYh873Y8M2uaqdosLYkb73tn9iGoy9-4O1BVw7zJid9ozb2UOpSLa-IPCk-ZEpzGQaGP5Rg7bL0mTooJoYFPCjuuNLxr3sZQ-6aXI7zWg9nN-QHzpq5wSfWg== 
serge.demay@axa-im.com 
 
   +33 (0) 1 44 45 84 47 
 
   ***** 
 
   ABOUT VOLTA FINANCE LIMITED 
 
   Volta Finance Limited is incorporated in Guernsey under The Companies 
(Guernsey) Law, 2008 (as amended) and listed on Euronext Amsterdam and 
the London Stock Exchange's Main Market for listed securities. Volta's 
home member state for the purposes of the EU Transparency Directive is 
the Netherlands. As such, Volta is subject to regulation and supervision 
by the AFM, being the regulator for financial markets in the 
Netherlands. 
 
   Volta's investment objectives are to preserve capital across the credit 
cycle and to provide a stable stream of income to its shareholders 
through dividends. Volta seeks to attain its investment objectives 
predominantly through diversified investments in structured finance 
assets. The assets that the Company may invest in either directly or 
indirectly include, but are not limited to: corporate credits; sovereign 
and quasi-sovereign debt; residential mortgage loans; and, automobile 
loans. The Company's approach to investment is through vehicles and 
arrangements that essentially provide leveraged exposure to portfolios 
of such underlying assets. The Company has appointed AXA Investment 
Managers Paris an investment management company with a division 
specialised in structured credit, for the investment management of all 
its assets. 
 
   ***** 
 
   ABOUT AXA INVESTMENT MANAGERS 
 
   AXA Investment Managers (AXA IM) is a multi-expert asset management 
company within the AXA Group, a global leader in financial protection 
and wealth management. AXA IM is one of the largest European-based asset 
managers with 739 investment professionals and EUR750 billion in assets 
under management as of the end of March 2019. 
 
   ***** 
 
   NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, IN OR 
INTO THE UNITED STATES 
 
   This press release is for information only and does not constitute an 
invitation or inducement to acquire shares in Volta Finance. Its 
circulation may be prohibited in certain jurisdictions and no recipient 
may circulate copies of this document in breach of such limitations or 
restrictions. This document is not an offer for sale of the securities 
referred to herein in the United States or to persons who are "U.S. 
persons" for purposes of Regulation S under the U.S. Securities Act of 
1933, as amended (the "Securities Act"), or otherwise in circumstances 
where such offer would be restricted by applicable law. Such securities 
may not be sold in the United States absent registration or an exemption 
from registration from the Securities Act. The company does not intend 
to register any portion of the offer of such securities in the United 
States or to conduct a public offering of such securities in the United 
States. 
 
   ***** 
 
   This communication is only being distributed to and is only directed at 
(i) persons who are outside the United Kingdom or (ii) investment 
professionals falling within Article 19(5) of the Financial Services and 
Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) 
high net worth companies, and other persons to whom it may lawfully be 
communicated, falling within Article 49(2)(a) to (d) of the Order (all 
such persons together being referred to as "relevant persons"). The 
securities referred to herein are only available to, and any invitation, 
offer or agreement to subscribe, purchase or otherwise acquire such 
securities will be engaged in only with, relevant persons. Any person 
who is not a relevant person should not act or rely on this document or 
any of its contents. Past performance cannot be relied on as a guide to 
future performance. 
 
   ***** 
 
   Attachment 
 
 
   -- 2019 07 08 RNS - Amended NAV a 
      https://ml-eu.globenewswire.com/Resource/Download/23e8c4e5-dffe-45e1-a7b6-5d75301fb05f 
 
 
 
 
 

(END) Dow Jones Newswires

July 08, 2019 10:15 ET (14:15 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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