LONDON (Alliance News) - SVM UK Emerging Fund PLC Tuesday said its net asset value rose in the six months to September 30.
The UK-based investment company said its net asset value gained more than 18% to 63.84 pence during the first half of the year, compared to a 9% rise in the FTSE AIM All Share index.
It said its share price rose by 28.5% during the period to 55.25 pence per share.
SVM reported a return of GBP602,000 before finance costs and taxes for the six month period, compared with a loss of GBP1.4 million a year earlier. It reported a net return attributable to
ordinary shareholders of GBP597,000.
The company said that since the start of the second-half of the year, it has seen further progress in its share price and net asset value.
The group said that the best performances during the six months came from the consumer sector, from the likes of ASOS, ITV, Ted Baker and SuperGroup. It said that it increased its portfolio investment in the UK consumer sector during the period.
SVM said that its main portfolio disappointments were in Manroy and Ophir Energy, however it sold both of them off.
Shares in the company were trading 2.3% higher Tuesday afternoon, at 55.75 pence per share.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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Svm Uk Emerg (SVM)