SVM closes McLean's Balanced Managed fund

SVM has closed its Balanced Managed fund due to a lack of investor demand.

The fund, which was run by Donald Robertson and Colin McLean, closed on 31 December. Launched on 15 May 2008, the fund failed to attract substantial assets, closing at £500,000. Investors in the fund were given the option of transferring their assets into another fund or receiving the proceeds of their investment in cash. "The low level of assets in the Balanced Managed fund made it uneconomic to run, leading to its closure," says head of retail sales and marketing Mark Noble. Meanwhile, SVM converted Colin McLean's UK Alpha fund into the SVM World Equity fund last month, with Neil...