Over 30% NAV decline for Schroder UK Public Private trust

Ten holdings with no value

Eve Maddock-Jones
clock • 3 min read

In the half-year report for the Schroder UK Public Private (SUPP) trust both the chair and manager pledged that the valuation error caused by its outgoing AIFM Link Group would not be repeated.

The report comes out just over a week after the trust was forced to issue a NAV statement after management had identified that one of its top ten holdings - BenevolentAI - had been subject to an administrative error. The stock's value had been accidentally overexaggerated having been "held at the valuation on the date of completion of the transaction with Odyssey and not updated for the quoted price on a daily basis since 26 April 2022". As a result, the trust's NAV was reported higher than it was, since it failed to account for BenevolentAI's declining value since it floated on the Euro...

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