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Thursday 20 December, 2012

Tetragon Financial Group Limit

Tetragon Financial Group Limited (TFG) Monthly


    Tetragon Financial Group Limited (TFG) is a Guernsey closed-ended investment
company
traded on the NYSE Euronext in Amsterdam under the ticker symbol "TFG".

    In this monthly update, unless otherwise stated, we report on the 
consolidated
business incorporating TFG and Tetragon Financial Group Master Fund Limited. (1)

    Net Asset Value Estimates as of November 30 2012

    (Amounts provided are unaudited and subject to change)

<pre>    
                                            (in millions except per share data)

    Estimated Fair Value of Investments:    $1,309.9
    Cash and Cash Equivalents:              $298.3
    Net Other Assets / (Liabilities):       $94.0
    Estimated Net Asset Value:              $1,702.2
    TFG Shares Outstanding:                 133.7
    Net Asset Value per Share: (2)          $14.91
</pre>    INVESTMENT COMPOSITION:

    As of the end of November 2012, the majority of the net assets of the 
company were
invested in the equity tranches of U.S. CLOs. Investments are also held in U.S.
senior
secured loans, equity tranches of European CLOs, asset management businesses, 
real estate
funds, and CLO mezzanine tranches, with the remainder of the net assets held in
cash less
certain net liabilities.

    The geographical allocation of TFG's CLO equity, direct loan, and real 
estate fund
investments was weighted primarily towards the United States, at 90.4% of such 
assets as
of the end of November 2012. European exposure was approximately 9.4% and Asia 
was
approximately 0.2%. TFG's ownership of asset managers is excluded from the 
geographic
allocation above as such managers are global in nature.

<pre>    
    Expected Upcoming Events                     Date

    December 2012 Monthly Report                 January 31, 2013 (approx)
    January 2013 Monthly Report                  February 20, 2013 (approx)
    2012 audited financial statements reported   March 1, 2013 (approx)
    Q4 2012 dividend (ex- date)                  March 1, 2013
    Q4 2012 dividend record date                 March 5, 2013
    Q4 2012 dividend payment date                March 25, 2013
</pre>    This release does not contain or constitute an offer to sell or a 
solicitation of an
offer to purchase securities in the United States or any other jurisdiction. The
securities of TFG have not been and will not be registered under the US 
Securities Act of
1933 (the "Securities Act"), as amended, and may not be offered or sold in the 
United
States or to US persons unless they are registered under applicable law or 
exempt from
registration. TFG does not intend to register any portion of its securities in 
the United
States or to conduct a public offer of securities in the United States. In 
addition, TFG
has not been and will not be registered under the US Investment Company Act of 
1940, and
investors will not be entitled to the benefits of such Act. TFG is registered in
the
public register of the Netherlands Authority for the Financial Markets under 
Section 1:107
of the Financial Markets Supervision Act ("FMSA") as a collective investment 
scheme from a
designated country. This release constitutes regulated information 
("gereglementeerde
informatie") within the meaning of Section 1:1 of the FMSA.

    --------------------------------------------------

    1.) TFG invests substantially all its capital through a master fund, 
Tetragon
Financial Group Master Fund Limited ("TFGMF") in which it holds a 100% share.

    2.) Excludes approximately 6.5 million shares held in treasury, 1.2 million
shares
held by a subsidiary and 11.8 million shares held in escrow. Please note that 
the December
2012 monthly report will show an increase in the shares held in a subsidiary as
a
consequence of the tender offer, whose results were previously announced. Such 
shares
would similarly be excluded from NAV per Share.

<pre>    
    For further information, please contact:

    TFG:
    David Wishnow/Yuko Thomas
    Investor Relations
    [email protected]

    Press Inquiries:
    Brunswick Group
    Andrew Garfield/Gill Ackers/Brian Buckley
    +44-20-7404-5959
    [email protected]
</pre>    PRNNLD



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