Scottish Value Management (SVM) is planning to add three new funds to its existing range of Dublin-re...
The technology fund will be called SVM New Economy fund and will invest in telecoms, IT and media stocks.
Colin McLean, managing director at SVM, said: "The separation between those sectors is becoming blurred, as demonstrated by the recent announcement of the merger between AOL and Time Warner."
The SVM New Economy fund will focus on the pan-European markets, although up to 10% of the fund could be invested outside the region.
McLean said: "Compared to the US where technology represents around 30% of the index, technology stocks in Europe are under-represented."
The management fee is expected to be 1.25% pa. SVM already holds about 50%-60% of its assets under management in these sectors.
The second fund to be launched is called the SVM UK 100 fund which will invest in the FTSE 100 companies. McLean stresses that this will not be a 'closet index fund' but will be actively managed to outperform the index.
The third fund, the SVM UK Opportunities fund, will invest in small and mid cap stocks defined as companies in the FTSE All-Share minus the FTSE 100 stocks.
SVM currently manages £700m, or e1.1bn, of assets in a range of investment trusts, offshore funds, hedge accounts and segregated accounts.
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