Side Pockets – January 2021 report SCBADAGIO & SCBMBOND

16 February 2021

As SCB Asset Management Company Limited (SCBAM) previously announced on the closure of SCBADAGIO and SCBMBOND and returned the sale proceeds from the Mirror Fund after deduction of expenses to the unitholders.

SCBAM would like to further update on the Side Pockets reports of January 2021 of H2O Adagio SP SR and H2O MultiBonds SP I (the Master Funds of SCBADAGIO and SCBMBOND respectively), per below :

ISIN Code Side Pocket	Name of the Side Pockets in EUR	Date of split	Latest available January 29^th2021	Variation of estimated valuation SP
FR0013535077	H2O Adagio SP SR	(1 October 2020 ) 8.71	8.60	-2.49%
FR0013535960	H2O MultiBonds SP I	(5 October 2020) 43,471.09	41,976.62	-1.13%

Monthly comments:

January 2021

The negative performance posted by the SP portfolios (save for H2O Vivace) this month originated from the non-payment by Trent Petroleum Finance of the coupon on its 8.5% 2023 bond.

Source: Side Pockets – January 2021 report as of February 3^rd, 2021 from H2O Asset Management.

Please be informed accordingly.
SCB Asset Management Company Limited