Business
Publication of Prospectus
Publication of Prospectus.
About this update from Cavendish Plc
[{"type":"text","content":"\n RNS Number : 4937C FRM Credit Alpha Limited 01 September 2008 \nFRM Credit Alpha Limited (the 'Company')\n\nPublication of Prospectus\n\n\nTHIS COMMUNICATION IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA.\n\n\n THIS ANNOUNCEMENT IS AN ADVERTISEMENT AND NOT A PROSPECTUS AND IS NOT AN OFFER TO SELL OR A SOLICITATION OF ANY OFFER TO BUY ANY SECURITIES IN THE UNITED STATES OR IN ANY OTHER JURISDICTION.\n\n\nInvestors should not subscribe to the shares referred to in this advertisement except on the basis of the information contained in the prospectus dated 1 September 2008 in connection with the placing and offer for subscription (and any supplement or amendment thereto). Copies of the prospectus will be available on the Company's website (www.frmcredit.com), at the Company's registered office, PO Box 173, Trafalgar Court, Admiral Park, St. Peter Port, Guernsey GY1 4HG, and at the offices of Herbert Smith LLP, Exchange House, Primrose Street, London EC2A 2HS\n\nFurther to the Company's announcement on 2 July 2008, FRM Credit Alpha Limited has today published a prospectus in respect of the admission of the Company's Shares to the Official List and to trading on the Main Market of the London Stock Exchange together with a Placing and Offer for Subscription of C Shares to be issued at £1 per C Sterling Share, €1 per C Euro Share and $1 per C Dollar Share. \n\nThe Company seeks to generate significant returns over cash, with low volatility and beta to global credit markets, when measured over a market cycle. The Company's portfolio comprises between 12 and 25 specialist credit hedge funds, which utilise fundamental research, asset allocation, security selection and activism to invest in credit securities, as opposed to investing primarily according to macro views on interest rate movements or spreads. Since inception on 1 April 2007, the Company has produced net returns of 17.8% (GBP) through 31 July 2008. The Company currently has a total Net Asset Value of approximately £96 million.\n\nPaul Dunning, CEO of Financial Risk Management Limited, says: 'Specialist credit hedge funds have produced&nb...