SVM trust to take a hedge bias

Scottish Value Management (SVM) has altered the objective of the Scottish Value Trust to allow up to a third to be invested in hedge funds and open-ended portfolios, writes Fiona Henderson. According to Sam Batcharj, business development director at SVM, the board of the trust has accepted the concept that up to 30% of the portfolio can be invested in open-ended funds and not restricted to long-only products. Batcharj said this 30% will be built up over time and will be primarily made up of hedge funds. At present the trust portfolio is made up of investments in other closed-end funds. ...