Volta Finance Ld Volta Finance Limited - Amended Nav Announcement Date And Change Of Pricing Source
08 Luglio 2019 - 4:15PM
UK Regulatory
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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