2021

HALF-YEARLY REPORT

TETRAGON FINANCIAL GROUP

2021 Half-Yearly Report

1

Contents

1 Strategic Review

Executive Summary

10

Investment Objective & Strategy

12

Key Performance Metrics

14

Investment Review

15

2 H1 2021 Financial Review

Financial Highlights

27

Pro Forma Statement of Comprehensive Income

28

Pro Forma Statement of Financial Position

29

3 Other Information

TFG Asset Management Overview

31

Share Repurchases & Distributions

36

Share Reconciliation and Shareholdings

37

Additional CLO Portfolio Statistics

38

Certain Regulatory Information

40

Equity-Based Compensation Plans

41

Shareholder Information

42

4 Financial Statements

Unaudited Condensed Financial Statements

for the period ended 30 June 2021

43

4

TETRAGON(1) is a closed-ended investment company that invests in a broad range of assets, including public and private equities and credit (including distressed securities and structured credit), convertible bonds, real estate, venture capital, infrastructure, bank loans and TFG Asset Management, a diversified alternative asset management business. Where appropriate, through TFG Asset Management, Tetragon seeks to own all, or a portion, of asset management companies with which it invests in order to enhance the returns achieved on its capital. Tetragon's investment objective is to generate distributable income and capital appreciation. It aims to provide stable returns to investors across various credit, equity, interest rate, inflation and real estate cycles. The company is traded on Euronext in Amsterdam N.V. and on the Specialist Fund Segment of the main market of the London Stock Exchange.

To view company updates visit: www.tetragoninv.com

Tetragon's shares are subject to restrictions on ownership by U.S. persons and are not intended for European retail investors. These are described on our website. Tetragon anticipates that its typical investors will be institutional and professional investors who wish to invest for the long term in a capital appreciation and income-producing investment. These investors should have experience in investing in financial markets and collective investment undertakings and be capable themselves of evaluating the merits and risks of Tetragon shares and they should have sufficient resources both to invest in potentially illiquid securities and to be able to bear any losses (which may equal the whole amount invested) that may result from the investment.

  1. Tetragon Financial Group Limited is referred to in this report as Tetragon. References to "we" are to Tetragon Financial Management LP, Tetragon's investment manager.

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Disclaimer

Tetragon Financial Group Limited published this content on 30 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 July 2021 07:48:05 UTC.