LONDON (Alliance News) - SVM UK Emerging Fund PLC on Monday said it had outpaced its benchmark in its most recent half year due to strong performances from three key holdings.
As at September 30, the smaller UK companies investor posted a net asset value return of 15%, comfortably ahead of the 7.9% return recorded by its benchmark, the IA UK All Companies Sector Average Index.
The fund's net asset value at September 30 was 128.38 pence, higher compared to 112.05p at March 31. SVM UK's net current assets at the end of the half increased to GBP274,000 from GBP249,000 six months earlier.
The most significant contributors to the fund's performance in the period were pharma companies Dechra Pharmaceuticals PLC and Hutchison China MediTech Ltd, as well as construction and development firm Watkin Jones PLC.
"The portfolio emphasises exposure to scalable businesses with a competitive edge that can deliver above average growth. The fund remains fully invested and is currently making use of its ability to apply gearing to increase its market exposure," said SVM UK Emerging Fund Chairman
Peter Dicks.
Shares in SVM UK Emerging Fund closed untraded at 112.50 pence.
Hutchmed (HCM)
Watkin Jones (WJG)
Svm Uk Emerg (SVM)