SVM UK Absolute Alpha reaches £12m in first month

SVM UK Absolute Alpha has taken £12m in its first month while its unit price is up 3.9% (as at 7 May...

SVM UK Absolute Alpha has taken £12m in its first month while its unit price is up 3.9% (as at 7 May). Manager Colin McLean has so far invested in 50% of the fund, preparing for improving market sentiment by buying into banks, mining and selected industrial stocks. On the grounds key economic indicators point to a more sustainable rally than those seen in 2008, McLean has taken a net long stance. McLean believes confidence has been temporarily boosted by US and European governments' and regulators' failure to acknowledge the full problems of banks' balance sheets. "Stockmarkets and ...