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McLean loads up on his underperforming UK small-cap fund

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McLean loads up on his underperforming UK small-cap fund

Colin McLean, managing director of SVM Asset Management, has snapped up shares in his ailing £2.8 million UK Emerging investment trust.

According to an announcement posted on the London Stock Exchange late yesterday afternoon, McLean has bought an additional 135,000 shares in his trust, raising his total stake to 309,000 shares, or 5.15%.

McLean assumed sole control of the struggling trust on 6 September when SVM co-founder Donald Robertson resigned from the firm.

In the last three years the trust has seen its net asset value fall by 25.46% versus a 20.63% rise in the FTSE Small Cap index.

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