Banks bolster SVM Europe fund

Joining from a Netherlands merchant bank this year, Cuthbert and Veitch are playing financials in European portfolio

SVM Continental Europe was taken over by Hugh Cuthbert and deputy manager Neil Veitch after they joined Edinburgh-based SVM Asset Management in January this year. Aiming for long-term capital growth primarily through large-cap investments, the European offering now has £10.8m in assets under management and shows bid to bid performance of 20.1% against a European sector average of 17.3% for the year to 2 October. Its growth for the period ranks it eighth in the sector against 92 rival offerings. Its five-year growth figure stands at 90.6%, against a peer average of 68.1%. Veitch also has r...