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SVM co-founder Donald Robertson exits
Markets
by Emma Dunkley on Sep 06, 2012 at 07:51
SVM Asset Management’s co-founder Donald Robertson has resigned from the firm, leaving fellow co-founder Colin McLean managing a range of funds.
Robertson’s departure means McLean will become lead manager on the SVM Global Opportunities fund, which Robertson co-managed Neil Veitch has been appointed deputy manager.
In a statement, SVM said the managers have ‘undertaken various changes to the portfolio and will continue to transition the portfolio to increase the fund’s market sensitivity and underlying liquidity.’
In his role as deputy, Veitch will use ideas from his SVM World equity fund , which has delivered 15% year-to-date, versus other funds in the IMA Global Growth Sector, which on average have returned 6.1%.
The SVM Cautious Managed fund , which Robertson managed, will be run by McLean on an interim basis while the firm reviews the future of the fund.
Meanwhile the SVM Absolute Alpha fund, run by McLean, has also been placed under review.
Robertson also managed the SVM Global, leaving McLean to take on sole responsibility for the investment trust.
Robertson co-founded SVM Asset Management in 1990 with McLean. Prior to joining SVM, Robertson worked at Ivory & Sime.
On Global Opportunities, Robertson and McLean are down -2.82% in the three years to the end of July, versus the FTSE World Total Return’s gain of 36.3%.
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