Net Asset Value(s)

A fund table lists Alpha UCITS ETF Fair Oaks AAA CLO Fund share-class data dated 20/10/2026. The GBP-hedged accumulating class shows a NAV of GBP 10.84 and 156,822 shares outstanding; the table reports total net assets of EUR 143,737,140.85. A second, EUR-denominated class entry is truncated, so its NAV and other details are incomplete.

Analysis

This is a routine NAV disclosure, not evidence of a change in CLO credit conditions or fund performance. The reported share-class NAVs and common fund net-assets figure do not establish portfolio composition, rating migration, leverage, liquidity, or returns; the excerpt also has formatting ambiguity in the net-assets figure. There is no clear directional signal for CLO spreads or listed credit managers. Near term, the main actionable issue is data verification: confirm the official NAV file and the fund’s holdings, flows, and valuation policy before interpreting the figures. Over 1–3 months, a meaningful signal would require corroboration from CLO liability spreads, downgrades/defaults, or fund-flow data. Structurally, AAA-rated CLO exposure can still be sensitive to spread widening and secondary-market liquidity, but this disclosure alone does not show those risks have increased. No trade is indicated.

Key Decisions for Investors

• No position based on this disclosure alone; do not treat a published NAV as evidence of stable underlying liquidity or credit quality.
• Verify the official factsheet or administrator record for the net-assets figure, share-class NAVs, holdings, and valuation date before using the data in credit monitoring.
• Watch CLO AAA tranche spreads, rating actions, and fund flows over the next 1–3 months; reassess only if these independently confirm deterioration or improvement.