Fair Oaks Income Limited
FA17.L
London Stock Exchange0.49
USD
+0.01
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Fair Oaks Income Limited
FA17.L
(London Stock Exchange)
Recent
price
0.49
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Fair Oaks Income Limited Fair Oaks Income Limited (FA17.L) operates as a closed-end feeder investment fund that provides exposure to collateralized loan obligations and related instruments backed primarily by US and European floating-rate senior secured loans. The company invests its entire corpus through master funds, including FOIF II LP and FOMC III LP, managed by Fair Oaks Capital Limited; its portfolio emphasizes subordinated CLO equity positions, which comprise approximately 85% of assets, alongside mezzanine debt, offering diversified look-through exposure to over 1,200 loan issuers across 15 CLO managers, with a growing focus on ESG-integrated CLOs representing nearly 78% of equity holdings. Fair Oaks Income Limited, founded in 2014 and domiciled in the Channel Islands with primary operations aligned to London Stock Exchange listing, targets attractive risk-adjusted returns through income distributions and capital appreciation for institutional and retail investors in the credit markets. The fund maintains a robust dividend policy, delivering an annual target of 8.0 US cents per 2021 share with full income coverage from portfolio cash flows, supported by low default rates of 0.37% in 2024 and projected gross returns of 22% on current positions amid favorable CLO market dynamics including record refinancings and tightening spreads. In recent developments, Fair Oaks Income Limited proposes extending the life of Master Fund III to an evergreen structure in response to evolving CLO market trends toward longer-term resets, aiming to enhance returns, reduce costs, and avoid premature liquidations, with a shareholder continuation vote advanced to 2025 and an upfront exchange option for large holders seeking in-specie redemptions; additionally, the company executed a $7.25 million return of capital to Realisation shareholders via partial redemption in July 2025, alongside ongoing share buybacks and management fee reinvestments when shares trade at discounts to NAV, reflecting strategic liquidity management during a period of narrowing discounts and double-digit total returns of 14.91% for 2021 shares and 17.35% for Realisation shares in 2024.