SCM Private sees strong returns for ETF-based funds

SCMP's Long Term Portfolio, which is managed in a similar vein to a mutual fund in the Investment Management Association's (IMA) Balanced Managed sector, gained 20.4% after fees for the 12 months to June 11. This compares to a gain of 16.9% for the average Balanced Managed fund over the same time frame. Meanwhile, the wealth management firm's Absolute Return product rose 16.2%, smashing the performance of most of its mutual fund peers in the same sector. The strong returns mark a comeback for Alan Miller, senior partner and fund manager at SCMP, who left New Star Asset Management i...