Mercia Asset Management PLC (MERC) 2019年年度报告「LSE」.pdf

1、MERCIA ASSET MANAGEMENT PLCANNUAL REPORT&ACCOUNTS 2019The Regionally Focused Specialist Asset Manager Mercia is a proactive,specialist asset manager focused on supporting regional SMEs to achieve their growth aspirations.We provide capital across our four asset classes of balance sheet,venture,priva

2、te equity and debt capital;our Complete Capital Solution.The UKs regional investorINTRODUCTIONSTRATEGIC REPORT1MERCIA ASSET MANAGEMENT PLCANNUAL REPORT&ACCOUNTS 2019STRATEGIC REPORTc.507mc.381mAssets under managementFunds under management126.1mNet assets87.7mDirect investment portfolio10.7mRevenue1.

3、4mNet expenses29.8mUnrestricted cashHIGHLIGHTSCONTENTSPORTFOLIO HIGHLIGHTS 19.4million invested into 17 portfolio companies during the year including two new direct investments,W2 Global Data Solutions and Locate Bio Net fair value increase of 3.9million(2018:2.8million)Direct investment portfolio i

4、ncreased to 87.7million (2018:66.1million)6.5million syndicated investment into Oxford Genetics Significant commercial progress made by a number of portfolio companies including nDreams,the Groups largest direct investmentOPERATIONAL HIGHLIGHTS Third-party funds under management(“FuM”)totalling c.38

5、1million(2018:c.400million);contributing 9.6million in revenue FuM reduction reflects the winding down of the RisingStars Growth Fund including returning c.17million of capital to fund investors Venture FuM 224.1million.RisingStars Growth Fund fully unwound in March 2019,generating an IRR of 15%and

6、a total value to paid-in capital(“TVPI”)of 528%for investors Private equity FuM 61.2million.Coalfields Growth Fund has to date generated an IRR of 19%and a TVPI of 236%for investors Debt FuM 96.0million.Finance Yorkshire Small Loans Fund winding down generating a 107%return on original fund commitme