Net Asset Value as at September 30, 2012
MONTREAL, Oct. 4, 2012 /CNW Telbec/ - Global Diversified Investment Grade Income Trust ("Global DIGIT") announces that the net asset value ("NAV") per unit as at September 30, 2012 was estimated to be $6.46.
The NAV on a particular date is equal to the aggregate value of the assets of Global DIGIT, less the aggregate value of its liabilities. Substantially all of the assets of Global DIGIT consist of cash and three credit default swaps entered into with Deutsche Bank A.G. and the related collateral.
The NAV includes an amount of approximately $0.50 per unit retained and reserved for the payment of the portion of the future costs attributable to the units redeemed (since the initial annual redemption in 2006) included in the unwind costs which are deducted from the annual redemption price. The significance of such amount has grown following all the annual redemptions effected since Global DIGIT's initial listing on the exchange which have reduced the number of outstanding units from 10,712,500 to 2,695,984 units as of the date hereof.
About Global DIGIT
Global DIGIT provides an economic interest in a mezzanine tranche of credit default swap agreements in respect of portfolios of synthetic corporate exposures, mortgage-backed securities, asset-backed securities and structured finance securities.
SOURCE GLOBAL DIVERSIFIED INVESTMENT GRADE INCOME TRUST