Zombie fund LMS will take three to five years to die

Net asset value per share held steady at 90p in 2011 at investment company LMS Capital as the company embarked on the mammoth task of unwinding its portfolio.

Net asset value per share held steady at 90p in 2011 at investment company LMS Capital as the company embarked on the mammoth task of unwinding its portfolio.

The investment portfolio showed a net gain of £8.7m compared to £23.9m the previous year, including realised gains of £6.4m (2010: realised loss of £1.0m). The company is in the process of conducting an orderly realisation of all the assets of the company, and has put a freeze on all new investments.

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