Annual Financial Report
26 April 2021
Fair Oaks Income Limited
(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 2020 .
Highlights
· Fair Oaks Income Limited's (the "Company") Net Asset Value ("NAV") per 2017 Share was down 8.3% (31 December 2019: down 0.7%) for the year ended 31 December 2020 on a total return basis (with dividends reinvested.
· As at 31 December 2020, the Company's total market capitalisation was US$289 million.
· The Company's 2017 share price closed at a mid-price of US$0.6175 on 31 December 2020. The 2017 Shares traded at an average discount to NAV of -6.1% during the year.
· During April 2020, the Company announced an issue to satisfy market demand of 15,029,623 new 2017 Shares at an issue price of US$0.372 per new 2017 Share.
· The Company declared dividends of 5.8 US cents per 2017 Share in 2020, equivalent to a 9.4% dividend yield on the closing mid-share price on 31 December 2020. Cumulative dividends since the inception of the Company per 2017 Share are 66.8 US cents.
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LEI: 2138008KETEC1WM5YP90
Enquiries:
Fair Oaks Income Limited
Email: contact@fairoaksincome.com
Fair Oaks Capital Limited
Investor Relations
DDI: +44 (0) 20 3034 0400
Email: ir@fairoakscap.com
Praxis Fund Services Limited
Ben Le Prevost
DDI: +44 (0) 1481 755524
Email: Ben.LePrevost@praxisifm.com
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 Master Fund II and Master Fund III) 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. The Company will implement its investment policy by remaining invested in the Master Fund II and making new investments in Master Fund III.
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