11 Apr 2013 12:18
HENDERSON VALUE TRUST PLC - Net Asset Value(s)HENDERSON VALUE TRUST PLC - Net Asset Value(s)
PR Newswire
London, April 11
HENDERSON GLOBAL INVESTORS
HENDERSON VALUE TRUST PLC (FORMERLY SVM GLOBAL FUND PLC)
11 April 2013
Henderson Value Trust plc (the `Company')The Company announces that its unaudited net asset value per ordinary share atclose of business on 5 April 2013 was 295.47p.
In accordance with AIC guidance, this unaudited net asset value per ordinaryshare uses closing BID prices and is on a cum income basis.
Henderson Global Investors (the "Manager") became investment manager of theCompany on 1 April 2013.
As part of its fund transition process, the Manager is currently undertaking afull analysis of the Company's investment portfolio. This includes a review ofthe valuations of the Company's unlisted/illiquid holdings (the "ValuationReview").
At the time of this announcement, the Manager estimates that 8.2% of theCompany's 5 April 2013 net asset value of £141.1 million is still subject tothe Valuation Review which may result in adjustments to the valuations ofcertain holdings. Any such adjustments will be identified as they arise in theCompany's weekly net asset value announcements. The Manager will confirm to themarket when the Valuation Review has been completed, which is expected to bewithin the next two weeks.
The Company's 5 April 2013 net asset value of £141.1 million includes a £0.4million reduction in the valuation of the Company's holding in iO AdriaLimited, an owner and developer of Croatian real estate. This reflects theextension of the Manager's fair value pricing policy, which is currentlyapplied to the Manager's other holdings in iO Adria Limited, to the Company'sholding.
The Board has decided that the Company's interim financial statements for theperiod ended 31 March 2013 will be subject to audit by the Company's auditor,Ernst & Young. Ernst & Young will also be engaged by the Company to review anyvaluation adjustments made by the Manager after 1 April 2013 as part of theValuation Review.
Enquiries: Ian BarrassCo-Portfolio ManagerHenderson Value Trust plcTel: 020 7818 2964