News Column

Alternative Asset Opportunities Reports NAV Per Share Increase

May 12, 2014

Samuel Agini

LONDON (Alliance News) - Alternative Asset Opportunities PCC Ltd Monday said its net asset value per share increased 0.9% to 46.3 pence in the three months ended March 31.

In a statement, the closed-ended Guernsey-registered protected cell company, which has one cell known as the US Traded Life Interests Fund, said its shares were trading at an 18.2% discount to NAV per share at the end of the three month period. As of May 9, the discount had narrowed to 17.4%.

Three policy maturities on two lives were identified during the period, Alternative Asset Opportunities said, with the gains from the policy maturities recognised in the January 31 and February 28 NAVs adding about 2.7 pence to the NAV per share.

According to Alternative Asset Opportunities, there have been 55 policy maturities across 46 lives since the fund's inception.

The company now holds 92 policies covering 81 lives.

Alternative Asset Opportunities said it has received notification of one further policy maturity on one life with a face value of USD2.0 million, which once certified will add approximately 1.1p to the NAV per share.

The company's investment objective in respect of the fund is to provide investors with an "attractive capital return" by investing predominantly in a diversified portfolio of US traded life interests, life insurance policies issued in respect of US individuals by US life insurance companies, which are traded in a secondary market.

Alternative Asset Opportunities shares were Monday quoted at 38.84 pence, up 1.5%.

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Source: Alliance News

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