In December 2022 reporting, EEA fund reported in December a Fund NAV of $ 117m and Total attributable cash of $ 54m (46% of Fund NAV). EEA reported that just $ 15m is being held for future premium payments.Just on the redemption %’s
Redemption’s
Whilst we are very grateful for the redemption’s which are done at managements discretion. They seem low.
For Run-Off share class holders. The redemption is of c. 13.8% of your share count / NAV, whilst in the Continuing the % of NAV wil be approximately the same, however it matters where one is in the redemption queue.
That being said the SEK class of continuing shares saw a c. 18% redemption.
The EEA fund reported in December a Fund NAV of $ 117m and Total attributable cash of $ 54m (46% of Fund NAV). EEA reported that just $ 15m is being held for future premium payments.
So $54 -$ 15 is $39m of cash, and we calculate they have distributed c. $20m for these redemption’s, what are they doing with the other $20m..
Payments are to be expected around 30 days after the dealing date ( 3th February for Continuing and 10th February for Run-Off)