Scottish Value Management (SVM) is offering a 1% discount on its actively managed UK100 fund, writes...
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 and financials as of May.
Kelly runs a concentrated portfolio with the top 15 holdings making up 70.8% of the total. The largest three holdings are BP Amoco at 9.2%, Vodafone at 8.1% and Shell at 6.7%.
£116.8m of benefits received by customers
Spent 13 years at JPMAM
Headed by Ben Palmer and Edward Park
Consults on regulation and innovation in green finance
13 studies begun since April 2013