Volta Finance Limited - Net Asset Value as at 31 March 2024 - Seite 2

In terms of cashflow generation, Volta generated €27.1m equivalent of interests and coupons over the last 6 months on an annualized basis (21% of the March 2024 NAV).

Through March, we took profits on two European CLO rated debt tranches that were trading above par and had a high probability of being called in the near future.

Volta’s underlying sub asset classes monthly performances** were as follow: +1.1% for Bank Balance Sheet transactions, +2.4% for CLO Equity tranches, +2.3% for CLO Debt tranches and flat for Cash Corporate Credit and ABS.

As of end of March 2024, Volta’s NAV was €255.5m, i.e. €6.98 per share after deduction of the announced 0.14 dividend that will be paid in April. The end of March NAV also incorporates the benefit of the revised fee structure announced by Volta on February 28th.

*It should be noted that approximately 5.4% of Volta’s GAV comprises investments for which the relevant NAVs as at the month-end date are normally available only after Volta’s NAV has already been published. Volta’s policy is to publish its NAV on as timely a basis as possible to provide shareholders with Volta’s appropriately up-to-date NAV information. Consequently, such investments are valued using the most recently available NAV for each fund or quoted price for such subordinated notes. The most recently available fund NAV or quoted price was 0.32% as at 29 February 2024, 4.83% as at 31 January 2024 and 0.25% as at 30 September 2023.

** “performances” of asset classes are calculated as the Dietz-performance of the assets in each bucket, taking into account the Mark-to-Market of the assets at period ends, payments received from the assets over the period, and ignoring changes in cross-currency rates. Nevertheless, some residual currency effects could impact the aggregate value of the portfolio when aggregating each bucket.

CONTACTS

For the Investment Manager
AXA Investment Managers Paris
François Touati
[e-mail]
[phone]

Olivier Pons
[e-mail]
[phone]

Company Secretary and Administrator
BNP Paribas S.A, Guernsey Branch
[e-mail] 
[phone]

Corporate Broker
Cavendish Securities plc
Andrew Worne
Daniel Balabanoff
[phone]

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ABOUT VOLTA FINANCE LIMITED

Volta Finance Limited is incorporated in Guernsey under The Companies (Guernsey) Law, 2008 (as amended) and listed on Euronext Amsterdam and the London Stock Exchange's Main Market for listed securities. Volta’s home member state for the purposes of the EU Transparency Directive is the Netherlands. As such, Volta is subject to regulation and supervision by the AFM, being the regulator for financial markets in the Netherlands.