SVM Asset Management has closed its Balanced Managed fund owing to its small £600,000 size.
The fund was run by Colin McLean, the managing director at SVM, and Donald Robertson, a fund of fund managers at SVM.
It had mainly outperformed the Balanced Managed sector since inception. (article continues below)
SVM says a number of investors have switched into other SVM funds as a result of the closure.
The rest of the fund of funds team’s range continues to operate as normal.