SVM UK Opportunities fund alters policy to allow derivatives

Shareholder approval

The £157.7m SVM UK Opportunities fund will be able to use derivatives, following a shareholder vote of approval on 2 December.

At an EGM, shareholders voted to "extend the investment powers" for the fund and alter the investment policy, both of which come into effective on 30 December. In a letter to clients, SVM said it is adopting these changes so that it can meet its investment objective to achieve capital growth over the long term and outperform the MSCI United Kingdom IMI. JP Morgan cuts management fee on UK trust The fund, which is managed by Neil Veitch and Craig Jeruzal, has struggled recently, returning 5% in five years, while the index returned 21.3%, according to the latest factsheet. In 2022,...