SVM to change name and benchmark of UK 100 Select

SVM will rename its UK 100 Select fund as UK Growth and change its benchmark to the FTSE All Share to more accurately reflect the portfolio's investment remit.

While the £10m fund's current objective is to outperform the FTSE 100 through a portfolio of predominantly large cap stocks, managers Margaret Lawson and Colin McLean are also permitted to own medium and smaller companies. "Although there are no stated rules on the minimum FTSE 100 exposure that the fund requires to maintain, we have historically managed the fund so that the majority of the portfolio tends to be invested in FTSE 100 companies and this will continue to be the case," the group says. "Increasingly in recent months we have been identifying many opportunities with medium a...