6 Feb 2013 10:11
SVM UK EMERGING FUND PLC - Interim Management StatementSVM UK EMERGING FUND PLC - Interim Management Statement
PR Newswire
London, February 6
SVM UK Emerging 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 UK Emerging Fund's investment objective is long term capital growth frominvestments in smaller UK companies with a particular focus on the AlternativeInvestment Market (AIM)
BenchmarkFTSE AIM IndexDividendThe Fund does not pay a dividend.
Material Events
On 6 September 2012 it was announced that Colin McLean, supported by deputymanager, Margaret Lawson and the SVM Asset Management team had assumedportfolio management of the Fund.
The Fund released its half yearly report for the six months to 30 September2012 to the Stock Exchange in November 2012. A copy is available on theManagers' website www.svmonline.co.uk.
Largest Investments as at 31 December 2012 Sector Analysis as at 31 December 2012
% % 1 Hydrodec 8% 7.8 Oil & Gas 1.8 2 Spirit Pub Company 4.7 Basics Materials 11.8 3 Unite Group 4.4 Industrials 15.6 4 RBS Group 4.4 Consumer Goods 7.7 5 Manray 3.8 Healthcare 0.0 6 Ashmore Group 3.6 Consumer Services 36.2 7 Ted Baker 3.5 Telecommunications 0.0 8 Claremont Partners Ltd 3.3 Utilities 0.0 9 Standard Life 3.2 Financials 20.3 10 Mitchells and Butlers 3.0 Technology 6.6 11 Salamander Energy 3.0 -------- -------- 100.0 Total 41.7 -------- -------- Financial Position As at As at 31 Dec 2012 30 Sep 2012 (unaudited) (unaudited) £'000 £'000 Investments 2,813 1,905 Net current assets (7) 968 ---------- ---------- Net assets 2,806 2,873 ---------- ---------- NAV per share 46.73p 47.85p Changes to Share Capital IssuedAs at 30 September 2012 6,005,000
Ordinary shares bought 0back Ordinary shares issued 0 --------------As at 31 December 2012 6,005,000
--------------Performance 3 months 1 year 3 years Remit change (*) % % % % Share price +1.3 -23.6 -26.4 +58.8 Net asset value -2.3 -32.1 -29.5 +45.3 FTSE AIM Index +0.4 +2.9 +10.9 -16.5* - investment remit changed September 2004
Source: SVM/Lipper, total 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.