18 Feb 2013 12:05
SVM GLOBAL FUND PLC - Interim Management StatementSVM GLOBAL FUND PLC - Interim Management Statement
PR Newswire
London, February 18
SVM Global Fund plc
Interim Management Statement
This interim management statement is for the three month period from 1 October2012 to 31 December 2012. It has been produced for the sole purpose ofproviding information to the Company's shareholders in accordance with therequirements 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-strategyportfolio and unique access to specialist funds including hedge and privateequity.
BenchmarkFTSE World IndexDividendA final dividend for the year ended 30 September 2012 of 2.00 pence per shareis being proposed at the Company's next Annual General Meeting scheduled for 11March 2013.
Material Events
On 3 October 2012 it was announced that Mr. Colin McLean had resigned from theBoard of Directors following his change of role in becoming sole manager of the Fund.
It was announced on 26 November 2012 that Panmure Gordon & Co were appointedcorporate brokers to the Company with effect from 26 November 2012.
The Fund released its preliminary unaudited final results for the year to 30September 2012 to the Stock Exchange on 5 December 2012. The Annual Report forthe year to 30 September 2012 and Notice of Annual General Meeting areavailable on the Managers' website www.svmonline.co.uk
The Board decided in December 2012 to put the Company's portfolio managementout to tender and announced a proposed new manager in February 2013.Shareholders will have an opportunity to endorse the Board's decision at aGeneral Meeting.
Largest Investments as at 31 December 2012 Geographic Analysis as at 31December 2012
% %1 Baring Vostok Investments 7.9 UK 19.62 Blackrock World Mining 5.1 North America 11.23 Oryx International Growth 4.4 Japan 2.24 Jupiter European IT 4.3 Far East 6.25 Ceiba Investments 3.9 Europe - Developed 18.16 Firebird Republics Fund 3.8 Europe - Emerging 23.97 Value Partners China 3.8 Other 25.6 Greenchip8 Century Capital Partners LP 3.5 Cash/Gearing -6.7 IV9 Gold Bullion Securities 3.410 Firebird New Russia Fund 3.4 --------- -------- 100.0 Total 43.4 --------- --------Financial Position As at As at 31 Dec 2012 30 Sep 2012 (unaudited) (audited) £'000 £'000Investments 126,166 126,041Net current 8,568 9,160(liabilities) / assets ---------- ----------Net assets 134,734 135,201 ---------- ----------NAV per share 281.37p 279.83pChanges to Share Capital Issued Treasury TotalAs at 30 September 48,315,546 57,924 48,373,4702012Ordinary shares (430,021) (57,924) (487,945)bought backOrdinary shares 0 0 0issued -------------- -------------- --------------As at 31 December 47,885,525 0 47,885,5252012 -------------- -------------- --------------Performance 3 months 1 year 3 years 5 years % % % %Share price -5.7 -15.4 -5.1 -42.5Net asset value 0.5 -12.2 -7.1 -35.9FTSE World Index +1.8 +8.7 +13.0 +4.3Source: SVM/Lipper, capital return to 31/12/2012
Kindly note that past performance is not necessarily a guide to the future andthat the value of investments and the income from them may fall as well asrise. Investors may not get back the amount they originally invested.
We are not aware of any significant events or transactions which have occurredbetween 31 December 2012 and the date of publication of this interim managementstatement which would have a material impact on the financial position of theFund.
Further Information
Further information regarding the Fund, including NAV and share priceinformation, can be found at the Manager's website: at www.svmonline.co.uk.