InvestmentsOct 8 2013

SVM alters benchmark on small cap trust

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SVM Asset Management has changed the benchmark on its £3.5m SVM UK Emerging investment trust to directly compete against open-ended funds.

Following the trust’s annual general meeting last month investors agreed to switch its benchmark from the FTSE AIM index to the IMA UK All Companies sector average, effective from October 1.

The UK Emerging trust is managed by Margaret Lawson alongside SVM founder and chief investment officer Colin McLean and invests in smaller companies.

In the five years to October 7 the trust’s share price rose 6.3 per cent, significantly underperforming its previous benchmark. In the same period the FTSE AIM index gained 47.3 per cent while the IMA UK All Companies sector posted an average gain of 79 per cent.