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29 May 2024

             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 – March and April 2024 report of H2O Adagio SP SR and H2O MultiBonds SP I (the Master Funds of SCBADAGIO and SCBMBOND respectively) as follows:

Monthly comments:

Summary of March and April Report:

             As of March 2024, Side Pocket (SP) funds performed a second reimbursement during the week of March 18, 2024. Letters to unitholders were sent from March 15, 2024. Please note that there may be a delay between payment by the custodian and receipt of cash by unitholders. Unitholders retain the same quantity of shares, albeit with a decrease in value equivalent to the reimbursed amount. The variations observed between February 2024 and March 2024 valuations are primarily explained by this reimbursement.

             As of April 2024, the estimated valuations as of the end of April have been revised upwards. It is worth reminding that the valuation uncertainty which led to the segregation of SP funds remains, and that any valuation therefore remains estimated.

             Our commitment in carrying out the complete liquidation of the SP funds remains unchanged, as does our intention to treat unitholders equally.

Source: Side Pockets – March and April 2024 report from H2O Asset Management.

Please be informed accordingly.
SCB Asset Management Company Limited