Statement re Disclosure of Investing Policy
(Thomson Reuters ONE) - For immediate release on 18 November 2009 CQS Rig Finance Fund Limited (the "Company") Disclosure of Investing PolicyIn accordance with Stock Exchange AIM Notice 33 and AIM Rule 8, CQSRig Finance Fund Limited (the "Company") discloses its InvestingPolicy. The Company's Investing Policy remains unchanged from thatset out in its Admission Document dated 11 December 2006 and ispublished on its website (www.cqsrigfinance.com), pursuant to AIMRule 26.Investing PolicyThe Company's investing policy is to provide Shareholders with anattractive total return, primarily through income, with scope forcapital appreciation. The Company targets, in the absence ofunforeseen circumstances, an annualised gross dividend yield of 8 percent. of the Net Asset Value per Share of the Company at the start ofeach financial year.The Investment Adviser seeks to achieve the investing policy of theCompany by sourcing and trading a portfolio of secured debtinstruments using fundamental credit and industry analysis toidentify instruments with an attractive risk-adjusted yield. Suchdebt instruments are expected to be primarily issued to finance theconstruction, modification and/or refurbishment of rigs and otherinfrastructure and/or equipment used for the offshore exploration andproduction of oil and natural gas.The Company seeks, on a global basis, to capture on its investmentsattractive risk-adjusted yields and potential capital appreciationarising from possible corporate activity, including but not limitedto, refinancing and industry consolidation. Returns are expected tobe enhanced through gearing the Portfolio by approximately 100 percent. although gearing up to 150 per cent. is permitted.The Company seeks to construct the Portfolio using a range ofsecurities, derivatives and other agreements including but notlimited to positions in bonds, floating rate securities, sovereignbonds, asset-backed securities, loans, repurchase agreements,interest rate and credit default swaps and swaptions, total returnswaps, interest rate futures and options, bond futures and options,currency swaps, foreign exchange contracts, futures and options andother options and derivatives.The Portfolio includes exposure, either directly or syntheticallyusing derivatives, to debt instruments that are secured. Suchinstruments may be denominated in any currency and the Company hasthe flexibility to trade in any market or instrument using varioustechniques to achieve its stated return objectives. The Company maytrade both rated and unrated debt instruments although it expects, inmost cases, that such instruments will not be rated by a recognisedrating agency. The Company may also trade listed and unlistedsecurities.Derivatives may be used for hedging or investment purposes. TheCompany may execute trades synthetically using derivatives including,but not limited to, total return swaps referencing the secured debtinstruments selected for the Portfolio. The Company may also retainamounts in cash, or cash equivalents, pending reinvestment if this isconsidered appropriate to the achievement of its investmentobjective.It is expected that investments will often be held through tomaturity (or earlier redemption/repayment by the issuer/borrower),although the Investment Adviser may trade investments depending onthe prevailing market conditions at any time. The performance of suchinvestments is therefore expected to be driven primarily by theperformance of the assets securing the investments.Enquiries:Alastair MoretonArbuthnot Securities LimitedNominated AdviserTelephone 020 7012 2000SecretaryKleinwort Benson (Channel Islands) Fund Services LimitedTelephone 01481 727111---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 18.11.2009 - 15:37 Uhr
Sprache: Deutsch
News-ID 8579
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