6th Jul 2018 15:38
LONDON (Alliance News) - SVM UK Emerging Fund PLC said Friday it outperformed its benchmark in its recently ended financial year.
In the year to March 31, the company's net asset value total return increased by 19% compared with a 16% increase in financial 2017. Net asset value as at March 31 increased to 112.05 pence per share from 94.25p year-on-year.
The company's share price increased 33% against an increase by 2.7% in the company's benchmark index.
"Despite the background of the Brexit negotiations, the UK market has proved relatively resilient over the twelve months." the company said before reiterating that it is "fully invested".
"Despite the uptick in global growth, debt has been increasing in many nations. This will bring disinflationary pressures in the medium term despite the current respite. With technology maintaining pressure on margins, there remain longer term headwinds for some cyclical sectors. The environment favours businesses with genuine organic growth and some pricing power," said Chairman Peter Dicks
SVM shares were untraded on Friday, last quoted at 103.00 pence.
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