Managed fund from Cheviot

London-based investment broker Cheviot Capital, an arm of accountants Kingston Smith, is to launch a managed fund next month. The CF Cheviot Managed Fund, a UK-listed unit trust, is the first retail fund from the firm, which provides discretionary portfolio management and brokerage services. Cheviot Capital chief executive Kenneth Levy, formerly managing director of Gerrard's unit trust business, said the asset allocation will comprise around 85% equity exposure at launch, made up of 75% UK equities split between 40-50 stocks and 10% in overseas funds. Stock selection will emphasise c...