This includes the valuations of Revolut and Atom Bank
IN BREIF:
Schroders is required to mark down its investments on a regular basis which has caused a significant reduction in the valuation of some portfolio companies
Schroders Capital Global Innovation trust, a UK-listed investment trust, which has a £10m stake in Revolut, has marked its holding down by 46%
Likewise, Atom Bank is the fund’s second largest holding and has been marked down 31%
What does this mean?
This mark down has potentially damaged Revolut’s valuation by $15bn, whilst Atom Bank previously raised at £460m. Schroders Capital Global Innovation Trust was previously Woodford Patient Capital. It was an early backer of Atom Bank and, when taken over by Schroders, Revolut was one of its first investments.
