Net Asset Value(s)

RNS Number : 9419L

SVM UK Emerging Fund PLC

10 September 2012

 



11 September 2012

SVM UK EMERGING FUND PLC

The Directors of SVM UK Emerging Fund plc (the Fund) announce  that Colin McLean, who assumed responsibility for investment management of the Fund on 6 September 2012, has undertaken a thorough review of the portfolio and concluded that it should be re-aligned. 

New investments will focus on more liquid, larger capitalisation stocks within the Fund's investment objective.  Half of the portfolio has been realised, and three investments written-down. Estimated unaudited NAV at close of business on Friday 7 September 2012, was 46.7p (bid prices).  

The Directors recognise the challenges currently in investing in smaller companies and are reviewing the Fund's investment mandate. They will notify shareholders when this review is completed, with the aim of seeking a mandate for shareholders that can deliver performance through more liquid equity investments. 

 

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