Last checked at 
(Alliance News) - SVM UK Emerging Fund PLC on Tuesday said its portfolio has a potential to deliver "above average" growth going forward after taking a hit from Covid-19 pandemic.
The investment company reported a net asset value negative return of 25.6% over the year to March 31 compared to a decline of 19.1% in the benchmark, the IA UK All Cos Sector Average Index since October 1, 2013.
SVM UK said its NAV per share as at March 31 stood at 81.88 pence compared to 110.6p reported a year earlier.
Share price as at the end of the financial year was 70.00p, representing a 15% discount to NAV.
SVM UK shares were untraded on the day Tuesday, last closing at 70.00p each in London.
The company explained that in late February and during March, the portfolio was impacted by the Covid-19 pandemic and fears of a sharp setback for the global economy. Stockmarkets and the portfolio had not fully recovered by the end of March.
"The portfolio emphasises exposure to scalable businesses with a competitive edge and potential for self-help that can deliver above average growth. It has low exposure to mining, oil and traditional banks," noted Chair Peter Dicks.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.