Published Date:
13 May 2008
SVM Asset Management, the Edinburgh-based hedge and traditional fund boutique, has more than doubled profits in 2007, despite a tough stock market environment.
The firm, headed by high-profile investor Colin McLean, posted a strong performance after a number of new contract wins.
Pre-tax profit increased to £2.6 million in the year, from £1.2m in 2006. "On the retail side we brought in more than £110m (in inflows) and we had institutional wins," said Mr McLean.
"Eventually, performance is feeding through into new business.
"We haven't seen outflows, although certainly inflows are slowing a bit. It's been fairly good so far this year."
Over the year, assets under management rose to £749.3m from £582.9m at the end of 2006.
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Last Updated:
13 May 2008 10:00 AM
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Source:
Edinburgh Evening News
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Location:
Edinburgh
