17 Feb 2011 15:00
SVM Global Fund plc
Interim Management Statement
This interim management statement covers the period from 1 October 2010 to 31 December 2010. It has been produced for the sole purpose of providing information to the Company's shareholders in accordance with the requirements of the UK Listing Authority's Disclosure and Transparency Rules. It should not be relied upon by any other party or for any other purpose.
Investment Objective
SVM Global Fund plc exploits global opportunities to provide long-term growth - providing shareholders with a diversified international multi-strategy portfolio and unique access to specialist funds including hedge and private equity.
BenchmarkFTSE World IndexDividend
Following approval by shareholders at the recent Annual General Meeting, the final dividend for the year ended 30 September 2010, of 1.00 pence per share, was paid on 1 February 2011 to shareholders on the register on 17 December 2010.
Material Events
The Fund released its annual results for the year to 30 September 2010 to the Stock Exchange on 25 November 2010. The Annual Report for the year to 30 September 2010 and Notice of Annual General Meeting was made available on the same date. A copy is accessible from the Managers' website.
At the Annual General Meeting held on 30 December 2010, the following Special Resolutions were passed which allow the Company to:
1. repurchase up to 8,564,181 of its own shares, representing approximately
15% of the Fund's issued share capital;
2. disapply pre-emption rights on the sale of shares up to an aggregate
nominal amount of £672,932, representing approximately 5% of the Fund's
issued share capital; and
Largest Investments as at 31 December 2010 Geographic Analysis as at 31December 2010 % %1 Black Rock World Mining 5.1 UK 19.22 Firebird Republics Fund 5.0 North America 14.9
3 JPMorgan Russian Securities 4.4 Developed Europe 13.5 4 City Natural Resources Trust 4.1 Emerging Europe 24.5 5 Prosperity Voskhod Fund
3.8 Japan 2.06 Eurovestech 3.8 Far East 13.97 Value Partners China Greenchip 3.0 Other 12.08 Ceiba Investments 3.0 ---------9 Jupiter European Opps Trust 3.0 100.0 10 LIM China Absolute Return Fund 2.9 --------- -------- Total 38.1 -------- Financial Position As at As at 31 Dec 2010 30 Sep 2010 (unaudited) (audited) £'000 £'000Investments 188,313 170,467Net current (liabilities) / assets (352) 1,936 ---------- ---------- Net assets 187,961 172,403 ---------- ---------- NAV per share 349.79p 319.06p
Changes to Share Capital
Issued Treasury Total
As at 30 September 2010 54,034,546 3,060,000 57,094,546 Ordinary shares bought bac k (300,000) 300,000
0Ordinary shares issued 0 0 0 ------------ ------------ ------------As at 31 December 2010 53,734,546 3,360,000 57,094,546 ------------ ------------ ------------Performance
3 months 1 year 3 years 5 years
% % % %Share price +7.9 +12.2 -33.1 -11.5Net asset value +9.5 +15.4 -20.5 +10.6FTSE World Index +9.5 +13.4 +4.7 +16.8
Source: SVM/Lipper Hindsight, capital return to 31/12/2010
Kindly note that past performance is not necessarily a guide to the future and that the value of investments and the income from them may fall as well as rise. Investors may not get back the amount they originally invested.
We are not aware of any significant events or transactions which have occurred between 31 December 2010 and the date of publication of this interim management statement which would have a material impact on the financial position of the Fund.
Further Information
Further information regarding the Fund, including Annual and Interim Reports and monthly factsheets, can be found at the Manager's website: at www.svmonline.co.uk.
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