SVM UK Emerging Fund plc
Interim Management Statement
This interim management statement covers the period from 1 October 2008 to 31
December 2008. 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)
Benchmark
FTSE AIM Index
Dividend
The Fund does not pay a dividend.
Material Events
The Fund posted its half yearly report for the six months to 30 September 2008
in November 2008.
Largest Investments as at 31 December 2008 Sector Analysis as at 31 December
2008
% %
1 Hydrodec 8% CULS 12.4 Basic Materials 37.2
2 China Pub Company 11.7 Industrials 8.5
3 Hurlingham 8.1 Oil & Gas 14.3
4 Mantle Diamonds 6.5 Consumer Goods 0.0
5 ToLuna 6.1 Consumer Services 26.4
6 Petra Diamond 6.1 Healthcare 1.0
7 GB Petroleum 5.9 Telecoms 0.0
8 Petrel Resources 5.1 Technology 2.4
9 Kirkland Lake Gold 4.1 Financials 10.2
10 AMZ Holdings 3.7 Utilities 0.0
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Total 68.7 100.0
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Financial Position
As at As at
31 Dec 2008 30 Sep 2008
(unaudited) (unaudited)
£'000 £'000
Investments 2,563 2,570
Net current assets 12 375
---------- ----------
Net assets 2,575 2,945
---------- ----------
NAV per share 42.68p 49.05p
Changes to Share Capital
Issued
As at 30 September 2008 6,005,000
Ordinary shares bought 0
back
Ordinary shares issued 0
--------------
As at 31 December 2008 6,005,000
--------------
Performance
3 months 1 year 3 years Remit
change (*)
% % % %
Share price -49.4 -53.9 -5.8 +27.5
Net asset value -13.0 -39.1 +1.9 +32.7
FTSE AIM Index -36.3 -61.8 -61.0 -55.2
* - investment remit changed September 2004
Source: SVM/Lipper Hindsight, capital return to 31/12/2008
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 2008 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, can be
found at the Manager's website: at www.svmonline.co.uk.
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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