Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

McLean's SVM Global up for grabs as board launches beauty parade

The board of Colin McLean's SVM Global is to hunt for a new manager in an attempt to repair the vehicle's track record.

McLean took on SVM Global following the departure of Donald Robertson, co-founder of Edinburgh-based SVM Asset Management.

The £136 million trust's board expects to host a competitive pitch in the new year, aimed at finding a well-suited manager able to fulfill its ambition of restoring outperformance.

According to SVM Global's latest shareholder report, the trust has had a challenging year, even leaving aside the departure of its manager.

Over the year to 30 September the trust's net asset value (NAV) per share dropped 12.2% versus a 17.7% rise in its FTSE World Index benchmark.

Moreover, shareholder returns have been hit by a widening of the trust's discount into the high teens.  The board described the past 12 months as a 'very disappointing' time and with immediate effect has put the management contract out to tender.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Volatility spike: How ETFs can soften the blow

Volatility spike: How ETFs can soften the blow

ETFGI’s Deborah Fuhr discusses the role of ETFs in client portfolios during volatile market conditions

Play Winter market warmers, the post QE world and timing the Fed

Winter market warmers, the post QE world and timing the Fed

This week’s episode of Investment Pulse looks at the winding down of quantitative easing, whether to try and time a US Federal Reserve rate rise and if strong seasonal performers can reverse recent market slumps

Play JPM’s Negyal: Back divis to temper EM volatility

JPM’s Negyal: Back divis to temper EM volatility

Omar Negyal, co-manager of the JPMorgan Global Emerging Markets Income trust, says a dividend approach to emerging markets reduces the volatility of investing in the asset class.

Wealth Manager on Twitter