Mercia’s business update highlighted the breadth of its portfolio (c 400 companies) and the strength of its cash position – £30.4m of unrestricted balance sheet cash and £190m of investment capital in its managed funds, giving c £220m of uninvested cash. However, with lower revenues now expected in FY21, Mercia also recognises that the valuations of both the NVM VCT portfolios, whose fund management contracts were acquired in December (22% fall in average NAV), a
27 Mar 2020
Mercia Asset Management - Embedded value despite COVID-19 impact
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Mercia Asset Management - Embedded value despite COVID-19 impact
Mercia Asset Management PLC (MERC:LON) | 35.0 -0.2 (-1.7%) | Mkt Cap: 152.0m
- Published:
27 Mar 2020 -
Author:
Richard Williamson -
Pages:
2
Mercia’s business update highlighted the breadth of its portfolio (c 400 companies) and the strength of its cash position – £30.4m of unrestricted balance sheet cash and £190m of investment capital in its managed funds, giving c £220m of uninvested cash. However, with lower revenues now expected in FY21, Mercia also recognises that the valuations of both the NVM VCT portfolios, whose fund management contracts were acquired in December (22% fall in average NAV), a