Svm Uk Emerg Regulatory News (SVM)

17 Feb 2011 15:00

SVM UK Emerging 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 UK Emerging Fund's investment objective is long term capital growth from investments in smaller UK companies with a particular focus on the Alternative Investment Market (AIM)

BenchmarkFTSE AIM IndexDividend

The Fund does not pay a dividend.

Material Events

The Fund released its half yearly report for the six months to 30 September 2010 to the Stock Exchange in November 2010. A copy is available on the Managers' website.

Largest Investments as at 31 December 2010 Sector Analysis as at 31 December 2010

% % 1 Archipelago Resources 8.3 Basic Materials 52.92 Symphony Env Technologies 7.0 Industrials 6.23 Kirkland Lake Gold 6.9 Oil & Gas 15.34 Norseman Resources 6.1 Consumer Goods 0.05 Oracle Coalfields 5.0 Consumer Services 12.96 Hydrodec 5.0 Healthcare 1.87 China Pub Company 5.0 Telecoms 0.08 Nautical Petroleum 3.9 Technology 0.09 Manroy 3.8 Financials 10.110 ToLuna 3.5 Utilities 0.8 -------- -------- Total 54.5 100.0 -------- --------Financial Position As at As at 31 Dec 2010 30 Sep 2010 (unaudited) (unaudited) £'000 £'000 Investments 4,758 3,771Net current assets 273 385 ---------- ----------Net assets 5,031 4,156 ---------- ---------- NAV per share 83.78p 69.21p Changes to Share Capital Issued As at 30 September 2010 6,005,000Ordinary shares bought back 0Ordinary shares issued 0 -----------As at 31 December 2010 6,005,000 -----------Performance 3 months 1 year 3 years Remit change (*) % % % % Share price +22.5 +9.1 -14.9 +135.3Net asset value +21.1 +26.3 +19.6 +160.4FTSE AIM Index +19.6 +44.1 -7.5 +8.6

* - investment remit changed September 2004

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 monthly factsheets, annual and half yearly reports, can be found at the Manager's website: at www.svmonline.co.uk.