ZAIS GROUP HOLDINGS, INC. (NASDAQ:ZAIS) Files An 8-K Regulation FD Disclosure
Item7.01 Regulation FD Disclosure.
ZAIS Group Holdings, Inc. (ZAIS Group or the Company) today
reported estimated unaudited net performance returns for the
month ended April 30, 2017 and actual month end, year-to-date
(YTD) and inception-to-date (ITD) net performance returns through
March 31, 2017 for the funds set forth in the table below.
| Fund Name (1) | Net Asset Value as of March 31, 2017 |
Estimated Net Return for the Month Ended April 30, 2017 (2) |
Actual Net Return for the Month Ended March 31, 2017 (3) |
Actual Net YTD Return through March 31, 2017 (3) |
Actual Net ITD Return through March 31, 2017 (3) |
|||||||||||||||
| ZAIS Opportunity Fund (4) (5) (6) | $ | 470,370,050 | 0.3% | 0.43% | 4.15% | 465.82% | ||||||||||||||
| ZAIS INARI Fund (7) | $ | 429,268,606 | 0.8% | 1.06% | 3.72% | 49.13% |
| (1) |
The performance data in the table above reflect unaudited net returns as of the close of business on the last day of the relevant period. These net returns reflect performance after taking into account management fees, expenses, and incentive fees/allocations, as applicable. Results reflect the reinvestments of dividends, interest and earnings. Past performance is not a guarantee, prediction or indicator of future returns and no representation is made that any investor will or is likely to achieve results comparable to those shown or will make any profit or will be able to avoid incurring substantial losses.An individual investor’s return may vary based on timing of capital transactions, differences in fund expenses and lower or no management fees and incentive fees/allocations. |
| (2) |
The monthly net return is based on managements unaudited estimates, as of the date hereof, for performance of the above referenced funds for the period indicated. Such performance results may change upon calculation of the final month-end net asset value of the above referenced funds, and any such changes could be material. |
| (3) |
The month end, YTD and ITD net returns represent unaudited actual returns as of the date hereof, for performance of the above referenced funds through the date indicated. The YTD and ITD net returns represent the cumulative effect of compounding the monthly returns for the relevant time period. |
| (4) |
Estimated unaudited net return reflects a blended return for all share classes of ZAIS Opportunity Fund taken as a whole, including fee paying and non-fee paying investors.Actual month-end, YTD and ITD net returns reflect an investment in ZAIS Opportunity Domestic Feeder Fund, LP (Domestic Feeder) Series A Interests that are subject to advisory fees and incentive allocation. Returns would differ for an investment in Domestic Feeder Series B and ZAIS Opportunity Fund, Ltd. (the Offshore Feeder) Series A and Series B. Effective April 1, 2012, management fee rates were reduced from 1.50% to 1.25% for Series A and from 1.00% to 0.75% for Series B. Effective January 1, 2013, incentive fees or allocation rates were reduced from 25% to 20% for Series A and from 20% to 15% for Series B. The Domestic Feeders returns for January 2009 and February 2011 have been adjusted to account for an increase of capital resulting from redemption penalties retained in the fund for the benefit of the remaining investors. Due to this adjustment, inception-to-date GAAP returns for years after 2008 would be lower than the adjusted returns presented. |
| (5) |
The net asset value includes the net assets of the Domestic Feeder and the Offshore Feeder. |
| (6) |
On April 19, 2017, the Offshore Feeder received a redemption request for a redemption of approximately $67.7 million (value date of March 31, 2017) from the Offshore Feeder.This redemption is scheduled to occur on December 31, 2017. |
| (7) |
Actual Net YTD return is based on a calendar year end, fiscal year end. |
The Company had approximately $3.360 billion of assets under
management (AUM) as of March 31, 2017(8).
(8)As of March 31, 2017. ZAIS Groups AUM is primarily comprised
of (i) total assets for mark-to-market funds and separately
managed accounts; (ii) uncalled capital commitments, if any, for
funds that are not in liquidation; and (iii) for issued
structured vehicles, all assets being managed calculated per the
management fee basis methodology defined in the respective
vehicles indenture, although in certain circumstances some or all
of the referenced management fees may be waived. AUM also
includes assets in the warehouse phase for new structured credit
vehicles and is based on actual assets managed without reductions
for leverage and most other liabilities and includes all assets
regardless of whether management fees are being earned. ZAIS
Groups March 31, 2017 AUM uses values for certain structured
vehicles that have been determined prior to March 31, 2017 based
on the most recent trustee report received as of March 31, 2017
for the relevant vehicle.
Cautionary Note Regarding Forward-Looking
Statements
Certain statements in this Current Report may constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements are
generally identified by the use of words such as outlook,
believe, expect, potential, continue, may, will, should, could,
would, seek, approximately, predict, intend, plan, estimate,
anticipate, opportunity, pipeline, comfortable, assume, remain,
maintain, sustain, achieve or the negative version of those words
or other comparable words. Forward-looking statements are not
historical facts, but instead represent only the Company’s
beliefs as of the date of this report regarding future events,
many of which, by their nature, are inherently uncertain and
outside of the Company’s control. Numerous factors, including,
but not limited to, the net asset value of assets in certain ZAIS
Group, LLC funds, could cause actual events to differ from these
forward-looking statements, and any such differences could cause
our actual results to differ materially from the results
expressed or implied by these forward-looking statements. In
addition, new risks and uncertainties emerge from time to time,
and it is not possible for the Company to predict or assess the
impact of every factor that may cause its actual results to
differ from those expressed or implied in any forward-looking
statements.
Accordingly, you should not place undue reliance on any
forward-looking statements contained in this Current Report, and
you should not regard any forward-looking statement as a
representation by the Company or any other person that the future
plans, estimates or expectations currently contemplated by the
Company will be achieved. You should consider any forward-looking
statements included in this report in light of the risks and
other important factors described in the Company’s filings with
the Securities and Exchange Commission (SEC), particularly those
identified in the sections entitled Risk Factors and
Management’s Discussion and Analysis of Financial Condition and
Results of Operations included or incorporated by reference in
Companys Form 10-K filed with the SEC on March 24, 2017, which
may be accessed through the Company’s website
(www.zaisgroupholdings.com).
The Company can give no assurance that the expectations of any
forward-looking statement will be obtained. Such forward-looking
statements speak only as of the date of this Current Report. The
Company expressly disclaims any obligation to release publicly
any updates or revisions to any forward-looking statements
contained herein to reflect any change in the Company’s
expectations with regard thereto or any change in events,
conditions or circumstances on which any statement is based.
Further, the Company is contractually obligated to report the
estimates contained herein to investors in the funds listed
above. The reporting of such estimates is not a projection of
earnings and estimates of Company earnings should not be inferred
from these estimates of monthly fund performance.
* * *
This Current Report is being furnished and shall not be deemed to
be filed for purposes of Section 18 of the Exchange Act or
otherwise subject to the liabilities of that section, nor shall
it be incorporated by reference into any of the Company’s
filings under the Securities Act of 1933, as amended, or the
Exchange Act, unless expressly set forth as being incorporated by
reference into such filing. This Current Report shall not
constitute an offer to sell or the solicitation of an offer to
buy any securities nor will there be any sale of these securities
in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
other jurisdiction.
ZAIS GROUP HOLDINGS, INC. (NASDAQ:ZAIS) Recent Trading Information
ZAIS GROUP HOLDINGS, INC. (NASDAQ:ZAIS) closed its last trading session down -0.04 at 2.23 with 75,184 shares trading hands.
