Schroder Ventures International Investment Trust (SVIIT) lost £44.2m (€71.6m) in net assets in the past year because of the poor performance of its quoted portfolio companies.

In the 12 months to end of June 2001, assets of the UK-listed private equity investment trust dropped to £416.9m. The prices of SVIIT's quoted stocks on average fell 47% during the year, including a £12.7m loss on AU System, a wireless software company, whose share price fell 80%, and Parkway Holdings, the Singapore listed healthcare company, whose share price fell 40%.