SVM global investment trust has announced it is to appoint Senator Shane Ross to succeed Simon McClean as chairman of the company.
Ross, who is currently deputy chairman, is to succeed existing chairman Simon McClean. The trust will hold its annual general meeting on December 13.
The trust, which released its results today for the year ending September 30 2005, has increased its net asset value by 30.9 per cent to 293.73p compared with an increase of 20.9 per cent in the Ftse world index, attributing its success to continuing to maintain an underweight position in assets exposed to the US dollar and US equity markets. A dividend of 1.25p per share is to be paid on January 6, 2006.