19 April
2024
FAIR OAKS INCOME LIMITED (the
"Company")
(Incorporated in Guernsey under The Companies (Guernsey) Law,
2008, as amended, with registered number 58123 and registered as a
Registered Closed-ended Collective Investment Scheme with the
Guernsey Financial Services Commission)
Annual Financial
Report
Fair Oaks Income Limited (the
"Company")
is pleased to release the Annual Report and
Audited Financial Statements for the year ended 31 December
2023.
Highlights
Fair Oaks Income Limited's (the
"Company") Net Asset Value ("NAV") return per 2021 Share was 12.98%
(31 December 2022: -0.90%) for the year ended
31 December 2023 on a total return basis (with dividends
reinvested). The NAV return per Realisation Share was 13.82% (31
December 2022: 0.5%) for the year ended 31 December 2023 on the
same basis
As at 31 December 2023, the
Company's total market capitalisation was US$238.6 million,
comprising US$210.1 million of 2021 Shares and
US$28.4 million of Realisation Shares.
The Company's 2021 shares closed at
a last-price of US$0.5500 on
31 December 2023 (31 December 2022: US$0.4900). The 2021 Shares
traded at an average discount to NAV of 11.71% during the year
ended
31 December 2023 (31 December 2022: Discount 10.15%).
The Company's Realisation shares
closed at a last-price of US$0.5700 on
31 December 2023 (31 December 2022: US$0.5650). The Realisation
Shares traded at an average discount to NAV of 4.29% during the
year ended
31 December 2023 (31 December 2022: Premium 1.30%).
The Company declared dividends of
8.00 US cents per 2021 Share and Realisation Share in the year
ended 31 December 2023 (31 December 2022: 9.50 US cents per 2021 Share and Realisation
Share).
Click on, or paste the following
link into your web browser to view the associated PDF
document.
http://www.rns-pdf.londonstockexchange.com/rns/2440L_1-2024-4-18.pdf
LEI: 2138008KETEC1WM5YP90
Enquiries:
Fair Oaks Income Limited
Email: contact@fairoaksincome.com
Web: www.fairoaksincome.com
Fair Oaks Capital Limited
Investor Relations
DDI: +44 (0) 20 3034 0400
Email: ir@fairoakscap.com
Sanne Fund Services (Guernsey) Limited
Email: fairoaksgrp@apexfs.group
Numis Securities Limited
Nathan Brown, Corporate
Broking
DDI: +44 (0) 20 7260 1426
Email: n.brown@numis.com
Liberum Capital Limited
Chris Clarke, Investment
Banking
DDI: +44 (0) 20 3100 2190
Email: chris.clarke@liberum.com
Fair Oaks Income Limited
Fair Oaks Income Limited is a
registered closed-ended investment company incorporated in
Guernsey. The Company was admitted to trading on the Specialist
Fund Market of the London Stock Exchange (now the Specialist Fund
Segment of the Main Market of the London Stock Exchange) on 12 June
2014.
The investment policy of the Company
is to invest (either directly and/or indirectly through FOIF II LP
and FOMC III LP) in US and European CLOs or other vehicles and
structures which provide exposure to portfolios consisting
primarily of US and European floating-rate senior secured loans and
which may include non-recourse financing.