Scottish Value Trust ups exposure to hedge funds

The hedge fund weighting of the £94.7m Scottish Value Trust has been increased to 28% as manager Colin McLean seeks performance in a lacklustre market environment. The trust began investing in hedge funds two years ago, when the board set a 30% ceiling on allocation to the asset class. 'They had set the limit at 30% but didn't want us to move there right away but as the allocation has been successful, we are moving up to that upper limit,' said McLean, who is also managing director of SVM. 'Our hedge fund exposure has tended to increase relative performance particularly against a weak...