Net Asset Value(s)

On 10 Dec 2025 Alpha UCITS–Fair Oaks AAA CLO Fund (a sub‑fund of Alpha UCITS SICAV) published NAVs for two share classes: the UCITS ETF GBP Hedged Acc (ISIN LU2825557270) at GBP 10.4557 with 101,822 shares outstanding, and the UCITS ETF EUR Dist (ISIN LU2785470191) at EUR 1,012.91 with 26,326 shares outstanding; the record lists a total fund size of 113,741,835.79. These figures provide current pricing and scale for institutional investors and highlight that the GBP share class is currency‑hedged, indicating active FX risk management for sterling investors.

Analysis

Alpha UCITS–Fair Oaks AAA CLO Fund (a sub-fund of Alpha UCITS SICAV) published NAVs dated 10/12/2025 showing the UCITS ETF GBP Hedged Acc (ISIN LU2825557270) at GBP 10.4557 with 101,822 shares outstanding, and the UCITS ETF EUR Dist (ISIN LU2785470191) at EUR 1,012.91 with 26,326 shares outstanding; the record lists a total fund size of 113,741,835.79. The presence of a GBP-hedged accumulation share class and a EUR distribution share class signals active currency management and distinct cashflow preferences for sterling versus euro investors.

The reported NAV levels and low share counts imply the fund is modest in absolute size and may have concentrated share-level liquidity characteristics despite a fund-wide asset base of ~113.7 million. Given the fund's AAA CLO focus (as indicated by the fund name) and theme classifications of Credit & Bond Markets, Market Technicals & Flows, and Currency & FX, NAV moves will likely be driven by CLO spread movements, tranche performance and FX shifts between sterling and the euro.

Market-impact and sentiment outputs were neutral to stable, suggesting this NAV release is routine rather than event-driven; nevertheless, investors should monitor future NAV updates and share-class flows for signs of changing liquidity or hedging needs that could affect execution and tracking between classes.

Key Decisions for Investors

• Consider using the GBP Hedged Acc share class (ISIN LU2825557270) if the objective is to remove EUR/GBP FX exposure,
• Assess position sizing and execution strategy given modest outstanding share counts (101,822 GBP shares; 26,326 EUR shares) against total fund assets of 113,741,835.79 to avoid market-impact costs
• Monitor subsequent NAV publications and distribution timing for the EUR Dist share class (ISIN LU2785470191) and CLO spread movements to reassess allocation or hedge needs