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SVM aims at alpha demand

SVM plans to set up a UK alpha fund this month with a go-anywhere mandate in response to market enthusiasm for large-cap stocks.

The firm offers a UK opportunities fund run by David Stevenson, investing in small and mid-cap companies with scope for an improvement in value but SVM says it has noticed increasing de-mand for exposure to large-cap stocks in the first half of this year and is aiming to respond.

A manager is yet to be appointed for the fund and its launch is subject to reg- ulatory approval.

The product carries an up-front charge of 5.25 per cent and an annual management charge of 1.25 per cent.

SVM is negotiating with supermarkets to include the fund on their platforms.

Head of retail sales and marketing Mark Noble says: “We feel there is a demand in the marketplace for all-share mandates and are seeking to fill this gap in our product range. This year, small and mid-cap stocks started well but sold off heavily in mid-March before rallying over the summer. This new fund will gain from small and mid-cap exposure but can and will invest in large-cap stocks. It will be another arrow in our quiver.”

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