Net Asset Value(s)

Alpha UCITS–Fair Oaks AAA CLO Fund (a sub‑fund of Alpha UCITS SICAV) reported NAVs as of 11/12/2025: the UCITS ETF GBP Hedged Acc. (ISIN LU2825557270) had a NAV per share of 10.4589 with 101,822 shares outstanding, and the UCITS ETF EUR Dist. (ISIN LU2785470191) had a NAV per share of 1,013.00 with 26,326 shares outstanding; both classes report the same fund total of 127,452,685.83, providing a snapshot of the fund’s size and class-level metrics for investors tracking CLO exposure and currency-hedged ETF wrappers.

Analysis

Alpha UCITS–Fair Oaks AAA CLO Fund (a sub‑fund of Alpha UCITS SICAV) reported NAVs dated 11/12/2025. The UCITS ETF GBP Hedged Acc. (ISIN LU2825557270) had a NAV per share of 10.4589 with 101,822 shares outstanding, and the UCITS ETF EUR Dist. (ISIN LU2785470191) had a NAV per share of 1,013.00 with 26,326 shares outstanding. Both share classes list an identical fund total of 127,452,685.83.

This snapshot is material for investors tracking CLO exposure and ETF wrapper mechanics because the GBP share class is currency‑hedged and accumulating while the EUR class is distributing, implying different cash‑flow and FX profiles across holders. The marked difference in NAV per share reflects denomination and issuance size rather than an explicit performance statement disclosed here. Modest share counts in each class suggest potential liquidity divergence between listings.

Automated signals label the release neutral with low market impact (sentiment_score 0.0, market_impact_score 0.1), indicating the NAV publication itself is a routine valuation update rather than a catalyst for credit repricing. Investors should therefore treat this as periodic reporting and await subsequent NAV movements, class flows or portfolio disclosures to reassess CLO credit and liquidity risk.

Key Decisions for Investors

• Verify class-level liquidity and execution capacity before initiating or adjusting positions given the modest share counts and differing NAV denominations
• Choose the GBP Hedged Acc. to reduce direct GBP currency exposure or the EUR Dist. to receive euro distributions, but confirm the classes' distribution and hedging mechanics in the prospectus
• Treat this NAV release as a routine valuation update; monitor subsequent NAV movements, class flows and any published CLO portfolio credit metrics to inform changes to exposure