SVM Plans Successor To Successful Long/Short Fund

Jan 21 2009 | 2:53am ET

Scottish money manager SVM Asset Management is aiming to capitalize on the success of its long/short Saltaire Fund, which posted a double-digit return last year.

Edinburgh-based SVM is seeking regulatory approval for its U.K. Absolute Alpha Fund. If approved by the Financial Services Authority, the new fund will be managed by Colin McLean, who also runs Saltaire. The existing fund returned 19.7% last year.

Absolute Alpha will be a UCITS III-compliant offering. Hector Kilpatrick will serve as its deputy fund manager.

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