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Press release

08Jun

Following strong fund inflows, Assenagon Alpha Volatility limits unit issuance to protect existing investors

In recent months, fund inflows to Assenagon Alpha Volatility have risen dramatically as changing correlation patterns on the capital markets increasingly attract investors to alternative asset classes with asymmetric risk/return profiles. The fund, which uses volatility as an investment class, has seen its NAV rise from EUR 130 million at the end of 2015 to around EUR 600 million. Assenagon has therefore decided to temporarily restrict the issue of new share certificates for Assenagon Alpha Volatility in order to safeguard existing investors' interests.

From 9 June 2016 until further notice, the total volume of new investments is to be limited to EUR 250,000 per week (although this figure may change in the event of variations in exchange rates). The total amount will be allocated pro-rata to orders received as of the cut-off on the last business day of the week, with shares to be allocated rounded down to whole units. The only investment date will be the first business day of the respective following week and only existing shareholders may subscribe. Assenagon reserves the right to approve exceptions. Shares may still be returned on any valuation date.

"With a NAV of approximately EUR 600 million, we believe we are well positioned to continue the optimal exploitation of opportunities presented by volatility on behalf of our investors", explained Assenagon's Managing Director Vassilios Pappas. "By restricting the issue of share certificates we are ensuring that we can fully meet our existing investors' expectations at all times."

Fund strategy

Assenagon Alpha Volatility's portfolio managers trade volatility pairs in accordance with certain recurring behaviour patterns on the volatility markets. They buy selected single-stock implied volatility while simultaneously selling index volatility. This strategy offers a systematic source of income and a particularly attractive yield potential in periods of heightened volatility.

Munich, 8 June 2016

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Disclaimer

This information is legally a marketing communication which does not meet all legal requirements designed to guarantee the independence of financial analyses and it is not subject to any prohibition on dealing ahead of the publication of financial analyses. The past performance of the strategy is not a reliable indicator of its future performance and does not guarantee future success. All information serves solely to support your independent investment decisions and does not represent any rec­ommendation on the part of the issuing management company Assenagon Asset Management S.A. Assenagon cannot guarantee the correctness, completeness or accuracy of the information. Any liability arising from this document is therefore completely excluded. The only documents deemed binding are the prospectus and key investor information as well as the current annual and semi-annual reports, which can be requested free of charge from the management company at www.assenagon.com, or from the distribution, paying or information agents. The fund's net asset value may be subject to fluctuation. The full prospectus contains comprehensive risk information in that respect. All information is subject to change at any time without prior notice. The information was examined only for compli­ance with Luxembourg and German law. In some jurisdictions, the dissemination of such information may be subject to legal restrictions. The preceding information is thus not intended for natural or legal persons who have their residence or registered office in a jurisdiction that restricts dissemination of information of this type. Natural or legal persons who have their residence or registered office in a foreign jurisdiction should seek information on such restrictions and observe them accord­ingly. In particular, the information contained in this document is not intended for citizens of the UK (except to a person in relation to whom exemptions under the Fi­nancial Services and Markets Act 2000 (Financial Promotions) Order 2005 (the "Order") apply. Relevant exemptions under the Order include, but are not limited to, Article 49 of the Order (high net worth companies)). The information contained in this document is also not intended for any resident of the United States or any other person deemed to be a "US person" as defined in Rule 902 of Regulation S under the US Securities Act of 1933, as amended, and this document does not purport to be an offer or sale of any interest in an Assenagon-managed fund to any such US person. No US federal or state securities commission or regulatory authority has confirmed the accuracy or determined the adequacy of this presentation or any other information provided or made available to investors. Any representation to the contrary is a criminal offense. For information on data protection, see the full prospectus.