SVM is planning to convert Colin McLean's UK Alpha fund into a global stockpicking vehicle, the SVM World Equity fund.
The £16m UK Alpha fund will become a concentrated portfolio of 30-40 global equities the manager believes are trading at a discount to their intrinsic value. It will be run by Neil Veitch, manager of the £71m UK Opportunities fund, using an unconstrained approach to portfolio construction. The vehicle will move from the UK All Companies sector into Global Growth. The changes will take effect on 1 December, subject to shareholder approval. Veitch says: "Our investment approach is similar to that of a trade buyer; we seek to establish the true value of the business in order to iden...
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