Last checked at 
17 Aug 2011 12:00
SVM UK Emerging Fund plcInterim Management Statement
This interim management statement covers the three month period from 1 April to 30 June 2011. 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 posted its Annual Report for the year to 31 March 2011 and Notice of Annual General Meeting to shareholders on 17 June 2011.
At the Annual General Meeting held on 22 July 2011, all of the resolutions put to shareholders were passed, including resolutions which allow the Company to:
1. repurchase up to 900,750 of its own shares, representing approximately 15% of the Fund's issued share capital;
2. allot new shares or reissue treasury shares up to an aggregate nominal amount of £300,000, representing approximately 100% of the Fund's issued share capital.
Largest Investments as at 30 June 2011 Sector Analysis as at 30 June 2011
% % 1 Archipelago Resources 8.3 Basic Materials 54.82 Symphony Environmental Tech 7.2 Industrials 16.13 Chalkwell Investments 6.6 Oil & Gas 18.94 Kirkland Lake Gold 6.4 Consumer Goods 0.05 Oracle Coalfields 5.8 Consumer Services 3.56 Hydrodec 4.9 Healthcare 0.07 Manroy 4.4 Telecoms 0.08 Sprue Aegis 4.0 Technology 0.09 Nautical Petroleum 3.0 Financials 5.910 Clontarf Energy 2.8 Utilities 0.8 -------- --------Total 53.4 Total 100.0 -------- --------Financial Position As at As at 30 Jun 31 Mar 2011 2011 (unaudited) (audited) £'000 £'000 Investments 4,852 4,973Net current assets 313 273 ---------- ----------Net assets 5,145 5,246 ---------- ---------- NAV per share 85.68p 87.36p Changes to Share Capital IssuedAs at 31 March 2011 6,005,000Ordinary shares bought back 0Ordinary shares issued 0 ----------- As at 30 June 2011 6,005,000 -----------Performance 3 months 1 year 3 years Remit change (*) % % % % Share price +4.8 +32.0 -5.0 +158.8Net asset value -1.9 +30.3 +30.5 +166.3FTSE AIM Index -4.6 +30.6 -7.6 +0.1
* - investment remit changed September 2004
Source: SVM/Lipper Hindsight, capital return to 30/06/2011
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 30 June 2011 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.
XLON