Scottish Value discount

Scottish Value Management (SVM) is offering a 1% discount on its actively managed UK100 fund, writes Ruth Alexander. Until 31 July, the initial charge on the product will be reduced to 4%. The annual management fee of 0.75% will still apply, as will the incentive fee of outperformance against the FTSE 100 index. The fund, which pays 3% initial and 0.5% renewal, was originally set up in March 2000 with in-house money and was relaunched to the retail market on 5 April this year. Managed by Andrew Kelly, the portfolio was overweight resources, general industrial, non-cyclical services a...