Blue Capital Alternative Income Fd Net Asset Value(s) (2009R)
September 19 2017 - 10:59AM
UK Regulatory
TIDMBCAI
RNS Number : 2009R
Blue Capital Alternative Income Fd
19 September 2017
Blue Capital Alternative Income Fund Limited (the "Company")
(Ticker: "BCAI")
19 September 2017
Net Asset Value, August 2017
As at the close of business on 31 August 2017, the unaudited net
asset value of the Company's Ordinary Shares is as follows:
Unaudited NAV August Year-to-Date
31 August 2017 Performance Performance
Ordinary
Shares $1.1117 0.45% 3.12%
The net asset value of the Company's Ordinary Shares at 31
August 2017 reflects the impact of Hurricane Harvey which made
landfall near Corpus Christi, Texas on 25 August 2017. The estimate
for losses incurred from Hurricane Harvey, net of recoveries from
reinstatement premiums, amounted to 2.4% of the opening net asset
value for Ordinary Shares in August. The Company's loss estimates
have been derived from the utilization of proprietary catastrophe
modeling, standard industry models, an in-depth review of in-force
contracts and initial indications from clients and brokers. The
actual losses from this event may ultimately differ materially from
estimated losses due to the nature of the risks assumed, the
complexity of the assessment of damages and the limited number of
reported claims received to date.
In accordance with the Circular of the Company dated 4 November
2016, the Company's administrator has calculated the estimated Net
Asset Value per Redemption Share as at the close of business on 31
August 2017.
As announced on 26 July 2017, an amount equal to US$8,122,646 is
expected to be distributed to shareholders of the Company who
participated in the Tender Offer in consideration for the second
partial redemption of Redemption Shares on or before 29 September
2017. Such amount will be distributed to shareholders pro rata to
their holdings of Redemption Shares, and their holdings of
Redemption Shares will be reduced accordingly based on the value
stated below. In respect of further redemptions, holders of the
Redemption Shares should note that the value below is included
purely to provide an indication of the potential redemption
proceeds yet to be paid for each remaining Redemption Share. The
actual proceeds that will be paid may differ from the amount
indicated below as a result of, inter alia, the future performance
of the portfolio attributable to the Redemption Shares and the
deduction of any applicable costs.
Unaudited NAV
31 August 2017
Redemption
Shares $1.1117
For more information about the Company, including access to the
Company's monthly Fact Sheets, please visit our website at
www.bcai.bm.
Enquiries:
Blue Capital Management
Ltd.
Michael J. McGuire +1 441 278 0988
Email: investorrelations@Sompo-Intl.com
Stifel Nicolaus Europe
Limited +44 (0)20 7710 7600
Neil Winward
Mark Bloomfield
Tunga Chigovanyika
This information is provided by RNS
The company news service from the London Stock Exchange
END
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