Last checked at 
(Correcting that Aquis Exchange PLC is an exchange services group and not an investor as was previously reported.)
(Alliance News) - SVM UK Emerging Fund PLC on Tuesday reported a decline in net asset value per share in its most recently ended financial year.
The investment firm said its NAV per share decreased over the 12 months to the end of March to 110.06 pence from 112.05p reported a year earlier.
SVM UK Emerging Fund's NAV total return was negative 1.8% and the share price total return was negative 6.7%. In comparison, the company's benchmark, the IA UK All Cos Sector Average Index, returned positive 2.8% over the same period.
During the 12 months, there were positive contributions to performance from online retailer Ocado Group PLC, drinks mixer maker Fevertree Drinks PLC, legal finance provider Burford Capital Ltd, legal service provider Knights Group Holdings PLC, exchange services group Aquis Exchange PLC, promotional merchandise firm 4Imprint Group PLC and litigation financing company Manolete Partners PLC, SVM UK Emerging Fund noted.
In contrast, the main "disappointments" in the period were fashion retailers ASOS PLC and Superdry PLC, online booking platform Hostelworld Group PLC and gambling firm GVC Holdings PLC.
"The portfolio emphasises exposure to scalable businesses with a competitive edge and potential for self-help that can deliver above average growth," said Chair Peter Dicks.
The trust's share price as at March 31 stood at 84.00p, representing a 24% discount to NAV.
SVM UK Emerging Fund shares were untraded on Wednesday in London, last closing at 91.56p each.