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Thursday 26 September, 2013

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 August 31, 2013

    (Amounts provided are unaudited and subject to change)

<pre>    
                                                       (in millions except
                                                       per share data)
    Estimated Fair Value of Investments:               $1,325.5
    Cash and Cash Equivalents:                         $275.2
    Net Other Assets / (Liabilities):                  $91.2
    Estimated Net Asset Value:                         $1,691.9
    TFG Legal Shares Issued and Outstanding:           134.5
    U.S. GAAP Net Asset Value per Share: [2]           $17.32
    Pro Forma Fully Diluted Net Asset Value per
    Share: [3]                                         $15.35
</pre>    INVESTMENT COMPOSITION:

    As of the end of August 2013, 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, 
hedge funds,
real estate funds, equities and CLO mezzanine tranches, with the remainder of 
the net
assets held in cash plus or minus certain net other assets or liabilities. 
Derivative
mark-to-market gains and losses are contained within net other assets or 
liabilities.

    The geographical allocation of TFG's CLO, direct loan, equity and real 
estate fund
investments was weighted primarily towards the United States, at 85.3% of such 
assets as
of the end of August 2013. European exposure was approximately 13.8% and Asia 
was
approximately 0.9%. TFG's ownership of asset managers, and investments in 
certain hedge
fund vehicles are excluded from the geographic allocation above as they span 
more than one
region.

<pre>    
    Expected Upcoming Events                    Date
    TFG investor day                            September 30, 2013
    September 2013 monthly report               October 31, 2013 (approx)
    Q3 2013 financial results                   October 31, 2013 (approx)
    Q3 2013 ex-dividend date                    October 31, 2013
    Q3 2013 dividend record date                November 4, 2013
    Q3 2013 quarterly investor call             November 14, 2013
    October 2013 monthly report                 November 28, 2013 (approx)
</pre>    TFG INVESTOR DAY

    As previously announced, TFG will host an investor day in London on 
September 30,
2013. Please note the start time has changed to 2:30 p.m. BST with the live 
webcast
starting at 3:00 p.m. BST. We expect the presentation to last approximately 2.5
hours.

    The webcast registration link is available here:

    
http://cache.merchantcantos.com/webcast/static/ec2mc/4000/5275/9523/11046/Lobby/
default.htm

    During the session, the principals of TFG's investment manager and the 
investment
teams of TFG's asset management platform will review:

<pre>    
    - TFG's investment strategy
    - TFG's current investment portfolio
    - TFG's asset allocations and uses of cash
    - The strategies on TFG's asset management platform
    - TFG's financial statements
</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 U.S. 
Securities Act
of 1933 (the "Securities Act"), as amended, and may not be offered or sold in 
the United
States or to U.S. 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 U.S. 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.) Calculation is with reference to U.S. GAAP Shares outstanding 
(approximately 97.7
million), which is determined by reducing TFG legal shares issued and 
outstanding by
approximately 7.9 million shares held in treasury, 16.6 million shares held by a
subsidiary and 12.3 million shares held in escrow.

    3.) Calculation is with reference to pro forma fully diluted Shares 
outstanding
(approximately 110.2 million), which is determined by adding to U.S. GAAP Shares
outstanding, shares held in escrow of 12.3 million and the number of shares 
corresponding
to the applicable intrinsic value of the options issued to the Investment 
Manager at the
time of the company's IPO (approximately 0.2 million).

<pre>    
    For further information, please contact:
    TFG:
    David Wishnow/Greg Wadsworth
    Investor Relations
    [email protected]

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