Svm Uk Emerg Regulatory News (SVM)

SVM UK Emerging Fund plc (the "Fund") Interim Management Statement This Interim Management Statement ("IMS") covers the three month period from 1April 2014 to 30 June 2014, and contains information that covers this period,and up to the date of publication of this IMS. It has been produced for thesole purpose of providing information to the Company's shareholders inaccordance with the requirements of the UK Listing Authority's Disclosure andTransparency Rules. It should not be relied upon by any other party or for anyother purpose. Investment Objective SVM UK Emerging Fund's investment objective is long term capital growth frominvestments in smaller UK companies. Its aim is to outperform the IMA UK AllCompanies Sector Average Index on a total return basis. Benchmark IMA UK All Companies Sector Average Index Dividend The Fund does not pay a dividend. Material Events The Fund posted its Annual Report for the year to 31 March 2014 and Notice ofAnnual General Meeting to shareholders on 11 July 2014. A copy is available onthe Managers' website www.svmonline.co.uk There were no buy-backs of shares for the period from 1 April 2014 to 25 July 2014(the latest practicable date prior to the issue of this document). The Board is not aware of any significant events or transactions, except asdisclosed, occurring between 30 June 2014 and the date of publication of thisIMS which would have a material impact on the financial position of the Fund. Largest Investments as at 30 June 2014 Sector Analysis as at 30 June 2014 % % 1 ITV Television 5.6 Oil & Gas 0.4 2 Ted Baker 4.1 Basic Materials 0.0 3 Unite Group 3.7 Industrials 20.8 4 Workspace Group 3.2 Consumer Goods 12.4 5 Thomas Cook 2.9 Health Care 1.2 6 Johnson Service Group 2.9 Consumer Services 38.0 7 Grainger Trust 2.9 Telecommunications 0.0 8 GVC Holdings 2.6 Utilities 0.0 9 Hays plc 2.4 Financials 19.4 10 Claremont Partners Ltd 2.4 Technology 7.8 -------- -------- Total 32.7 100.0 -------- -------- Financial Position As at As at 30 Jun 2014 31 Mar 2014 (unaudited) (audited) £'000 £'000 Investments 3,819 4,421Net current assets 70 18 ---------- ----------Net assets 3,889 4,439 ---------- ----------NAV per share 64.77p 73.93p Changes to Share Capital Issued As at 31 March 2014 6,005,000Ordinary shares bought back 0Ordinary shares issued 0 --------------As at 30 June 2014 6,005,000 -------------- Performance 3 months 1 year 3 years Remit change (*) % % % %Share price -11.7 +14.6 -22.7 +100.0Net asset value -12.4 +11.5 -24.4 +101.3 FTSE AIM Index -0.7 +22.6 +0.4 +0.6 * - investment remit changed September 2004 Source: SVM/Lipper, capital return to 30/06/2014 Past performance is not necessarily a guide to the future and that the value ofinvestments and the income from them may fall as well as rise. Investors maynot get back the amount they originally invested. Further Information Further information regarding the Fund, including monthly factsheets, annualand half yearly reports, can be found at the Manager's website: at www.svmonline.co.uk.