MAM Funds has upped its stake in Colin McLean's £146m SVM Global investment trust, fuelling speculation of impending corporate action by its shareholders.
MAM holds the investment trust across a number of portfolios, including 9% of the company in the Miton Special Situations fund, run by Martin Gray and James Sullivan. Its total stake in the Global trust has increased from 11% to 15% since 11 September, according to Morningstar, days after the resignation of SVM co-founder and former manager Donald Robertson. The management of the trust has been taken over by McLean, who has revamped the portfolio in a bid to turn around performance, following a disappointing five years. Since October 2007, the trust has lost 41.9%, compared to the...
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