Interim Management Statement

RNS Number : 7871G

NB Distressed Debt Invest. Fd. Ltd

18 May 2011

 



NB DISTRESSED DEBT INVESTMENT FUND LIMITED

INTERIM MANAGEMENT STATEMENT

17 May 2011

NB Distressed Debt Investment Fund Limited (the "Company"), is publishing this Interim Management Statement in accordance with DTR 4.3 of the FSA Handbook.

This interim management statement has been produced solely to provide additional information to shareholders as a body to meet the relevant requirements of the UK Listing Authority's Disclosure and Transparency Rules. It should not be relied upon by any other party or for any other purpose.

This interim management statement relates to the period from 1 January 2011 to 13 May 2011, and contains information that covers this period, and up to the date of publication of this interim management statement, unless otherwise specified.

Manager Review

The Company has made good progress during the first 133 days of 2011, deploying a further 43% of available capital at an average cost of 53% of face value.  As at 13 May 2011, a total of 74% of the Company's capital had been deployed in 43 companies across 12 industries.

As at 13 May 2011, the net asset value per ordinary share was $1.0288, representing an increase of 5.47% on the net asset value as at 31 December 2010.  This increase is attributed to capital appreciation of the underlying assets.

Material Events and Transactions

There were no material events and transactions during the reporting period.

Report and Accounts

On 14 April 2011, the Company posted its Annual Report and Accounts for the period from incorporation (20 April 2010) to 31 December 2010, to Shareholders.

Financial Highlights

	13 May 2011	31 March 2011	31 December 2010	30 September 2010	30 June 2010
NAV per share - US ¢	102.88	101.77	97.54	96.80	97.86

Investment Policy & Objective

The Company is a closed-ended investment company limited by shares registered and incorporated in Guernsey under The Companies (Guernsey) Law, 2008 (as amended) on 20 April 2010, with registration number 51774. The Company's primary objective is to provide investors with attractive risk-adjusted returns through long-biased, opportunistic stressed, distressed and special situation credit-related investments while seeking to limit downside risk by, amongst other things, focusing on senior and senior secured debt with both collateral and structural protection

The financial information for the period ended 13 May 2011 contained within this Interim Management Statement has not been audited.

By order of the Board

BNP Paribas Fund Services (Guernsey) Limited, for and on behalf of

NB Distressed Debt Fund Limited

as Company Secretary

 

END

 

 

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