Net Asset Value(s)

RNS Number : 0574D

New City High Yield Fund Limited

09 September 2008

 



To:        RNS

From:        New City High Yield Fund Limited

Date:        9 September 2008

Net Asset Value Announcement

Net Asset Values per share as at close of business on 08/09/2008

The unaudited net asset values (NAVs) of the Company are noted below (where applicable) in pence per share. NAVs are calculated in accordance with stated policies. Applicable accounting standards and AIC recommendations are followed.

                                                                       Pence    per        Pence per

                                                                                  share               share

                                                                       Cum Income        Ex Income

New City High Yield Fund Ltd                               49.35           48.60

New City High Yield Fund Limited has revalued its holding in FibreGen Plc's Convertible bond, which has been suspended since 18 July 2008, to reflect the prospects for a recovery of this investment, It is now being priced at 20p per unit rather than the previous price of 107.5p per unit. The impact of this revaluation is to reduce the NAV of New City High Yield Fund Limited by 1.51p per ordinary share which has been reflected in the NAVs above. The investment manager is working to ensure that the Company's interests are protected.

Please ensure that announcement includes date of valuation.    

 

END

 

 

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