SVM Global Opportunities A - new rating

By MARCEL PORCHERON 04/05/2007

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The SVM Global Opportunities fund offers global multi-asset exposure, principally through collective investment schemes. Managers Colin McLean and Donald Robertson target consistent outperformance of the FTSE World index, using equity, hedge, property and cash asset classes. They aim to outperform the benchmark both on the downside and also in rising markets where the team target outperformance of 5% or 6%. The fund could lag the market when momentum - the competition for performing assets - is very high.

Commonality with the SVM Global Investment Trust is estimated at about 50%, although the team may employ the flexibility of the fund’s UCITS structure in future, to bring it more in line with the investment trust. The OEIC is currently 32% invested in specialist equity funds, 13% invested in hedge funds with the rest held in private equity, resources, property and cash.

McLean and Robertson are currently cautiously positioned and as a result are increasing their exposure to less correlated assets like specialist European private equity and specialist hedge funds. Global emerging market exposure is a significant theme within the portfolio and a slowdown in these economies could present a risk to performance. Investors may wish to adopt a cautious approach to new investment, as SVM are currently exceeding their return expectations and the portfolio is displaying momentum characteristics.

The managers are expecting to close this fund to new investors at £75m. The TER is capped at 1.78%.

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Source: Financial Express