View more on these topics

SVM co-founder quits – funds placed under review

SVM co-founder and fund manager Donald Robertson has left the firm with immediate effect.

Robertson was lead manager of the £3.7m SVM UK Emerging Fund investment trust and £3m SVM Cautious Managed fund. He was also co-manager of the £162m SVM Global fund investment trust and £14.5m SVM Global Opportunities fund.

Colin McLean has become lead manager of the Global Opportunities fund with Neil Veitch appointed as deputy manager. The managers are now making a number of changes to the portfolio to increase the fund’s market sensitivity and underlying liquidity.

Prior to co-founding SVM in 1990, Robertson worked at Ivory & Sime.

Meanwhile, the group has decided to review the status of its SVM Cautious Managed and £2m SVM UK Absolute Alpha funds. It says no decision has been made on the funds and it will keep investors informed. McLean will also replace Robertson on the cautious managed fund.

McLean is to take over management of the global trust with no official decision on the emerging trust at this stage.

The SVM Global Opportunities fund is bottom quartile in the IMA Global sector over three years, having lost 35.6 per cent compared with an average return of 13 per cent for the sector. The cautious fund is also fourth quartile in the IMA Mixed Investment 20-60% Shares sector over three years, having returned 3.2 per cent compared with an average of 20 per cent for the sector.

Hargreaves Lansdown investment analyst Rob Morgan says: “Performance has not been good across the range at SVM for some time now. I am not surprised the funds are being reviewed.”

Recommended

1

SEI looks to add structured products to platform

SEI is set to add structured products to its platform, Money Marketing understands. It is in discussions with a number of structured product providers about adding products to its Global Wealth Services Infrastructure platform. This platform is used by firms such as True Potential, Bestinvest and Towry Law. In July, Money Marketing revealed Cofunds is […]

1

What advisers are saying: Have bonds become a dirty word?

I don’t know whether it is the reassuring sight of Steve Bould on the touchline, two consecutive clean sheets or a heady mix of the two but some things just feel innately good. There are certain sights, sounds and smells that are so deeply rooted in a time when all was well that even the […]

1

FSA proposes radical changes to client money regime

The FSA is proposing a number of changes to the client assets regime for investment firms. The regulator is to consult on changes required by the European Market Infrastructure Regulation regulator, that would require central counterparties in the event of a default by a clearing member. The establishment of a central counterparty would try to […]

4

Money Marketing to launch free CPD Centre for readers

Money Marketing is launching a free online CPD solution to help readers meet the new regulatory requirements being introduced from the start of next year. The Money Marketing CPD Centre will be powered by our technical division Taxbriefs, publisher of specialist financial learning and development materials. The RDR professionalism rules mean advisers need to undertake […]

Welcome to The Brunner Investment Trust PLC

Welcome to the latest update for The Brunner Investment Trust PLC from the trust’s portfolio manager Lucy Macdonald. Market Review Global equities ratcheted higher throughout February, buoyed by optimism about global growth and corporate earnings. All regions advanced, although Japan tended to lag many other markets. In sector terms, healthcare, information technology, consumer staples and […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. Professor Xiang Xhi 6th September 2012 at 12:17 pm

    Ah yes herro prease,

    This must surery be good news for SVM. It takes a very speciar kind of idiot to underperform the sector by 48%.

    Perhaps he courd go into partnership with Jayesh Manek. ROR.

Leave a comment