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Fair Oaks will launch new master fund

The commitment period of FOIF LP (the “Master Fund”) in which Fair Oaks Income Fund is invested ended in June 2016. The Company has subsequently introduced a redemption mechanism to return to Shareholders capital realised from the Master Fund and has made its first distribution under that mechanism.

Fair Oaks Capital Limited, the Company’s investment adviser, believes that there is an ongoing opportunity to invest in US and European CLOs to generate attractive risk-adjusted returns. The Company therefore announces that it is considering proposals under which Shareholders will be offered an option (but will not have an obligation) to extend the duration of their investment in the Company through a share class which would retain a pro rata interest in the Master Fund and reinvest its capital distributions into a new Master Fund. The new Master Fund will also have a limited commitment period and maturity, and will have similar objectives and terms as the current Master Fund.

The Company is also considering its options to raise further equity for the Company through a new C share class, which, if issued, would convert into that extended duration share class once substantially invested.

The Company will make a further announcement in due course.

FAIR : Fair Oaks will launch new master fund

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