Edinburgh’s SVM, Level E Capital Join Forces

Feb 6 2012 | 9:05am ET

Edinburgh-based investment boutique SVM Asset Management has joined forces with Level E Capital, a hedge fund based in the Scottish capital.

SVM, through its SVM Global fund, has made a “significant level of investment” in Level E Capital’s Maya Market Neutral fund, a systematic, long/short absolute return fund launched in early January. The Maya fund employs a "fully automated" process to invest in large cap UK and U.S. equities. The fund has a liquid, diversified portfolio of 400 positions, an average gross exposure of 200% and a target return of 15%, with a market correlation of less than 0.5.

Said Melville Bucher, SVM’s head of hedge fund marketing, in a statement: “Our confidence in both Level E and the process which the Maya Market Neutral fund uses is demonstrated by the significant investment which we have made through the SVM Global fund. We believe the absolute return approach complements SVM Global fund’s existing portfolio of investments. The strategy provides the potential for equity type returns whilst also offering low volatility coupled with low correlation to traditional equity indices.

The fund offers three share classes, A, B and C. The management fees are 1% for A, 2% for B and 0.5% for C shares while the performance fees are 10% for A, 20% for B and 30% for C shares.

Minimum investment is £1 million (A) and £75,000 (B and C). The fund targets institutions, high-net-worth individuals, family offices and foundations.

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