SVM reviews New Economy fund

SVM Asset Management, the rebranded Scottish Value Managers, is reviewing the future of its offshore New Economy fund, which is just £800,000 in size. Unlike its onshore technology peers, the SVM fund had a broad remit, allowing it to invest in telecommunications, pharmaceuticals and media companies. Consequently, the fund, managed by Margaret Lawson, returned 16.7% since its launch in March 2000 to 31 July this year. SVM will be contacting unitholders at the end of the month to determine whether or not the fund should remain in existence in its current form, given its uneconomical...