21 Feb 2014 15:40
SVM UK EMERGING FUND PLC - Interim Management StatementSVM UK EMERGING FUND PLC - Interim Management Statement
PR Newswire
London, February 21
SVM UK Emerging Fund plc Interim Management Statement This interim management statement is for the three month period from 1 October2013 to 31 December 2013. 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 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 released its half yearly report for the six months to 30 September2013 to the Stock Exchange in November 2013. A copy is available on theManagers' website www.svmonline.co.uk. Largest Investments as at 31 December 2013 Sector Analysis as at 31 December 2013 % % 1 Ted Baker PLC 5.2% Consumer Services 30.3% 2 ASOS PLC 4.2% Industrials 19.9% 3 Mar City 3.7% Financials 18.5% 4 Thomas Cook 3.7% Consumer Goods 15.1% 5 ITV Television CFD 3.6% Technology 11.4% 6 WANdisco Plc CFD 3.2% Health Care 2.9% 7 Supergroup CFD 3.1% Oil & Gas 1.9% 8 Workspace Group PLC 3.0% Basic Materials 0.0% 9 Unite Group PLC 2.9% Telecommunications 0.0% 10 Grainger PLC 2.8% Utilities 0.0% -------- -------- Total 35.6 100.0 -------- -------- Financial Position As at As at 31 Dec 2013 30 Sep 2013 (unaudited) (unaudited) £'000 £'000 Investments 4,506 3,732 Net current assets/ (182) 102liabities ---------- ---------- Net assets 4,324 3,834 ---------- ---------- NAV per share 72.01p 63.84p Changes to Share Capital Issued As at 30 September 2013 6,005,000 Ordinary shares bought 0back Ordinary shares issued 0 -------------- As at 31 December 2013 6,005,000 -------------- Performance 3 months 1 year 3 years Remit change (*) % % % % Share price 1.4 38.3 -6.7 115.4 Net asset value 12.8 54.1 -14.0 125.9 Benchmark + 7.1 20.8 -7.0 6.9 + The Benchmark changed to the IMA UK All Companies Average effective 30/09/13,the figure shown is a blended return with the FTSE AIM TR before this date. * - investment remit changed 01/09/04 Source: SVM/Lipper, total return to 31/12/2013 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 2013 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.