SVM Asset Management, the Edinburgh-based investment boutique, is to launch a World Equity Fund, its first global stock-picking strategy, on 1 December 2010. The plan is to change the name and investment objective of its UK Alpha fund to form the new fund.

The fund will invest in a concentrated portfolio of 30-40 global equities seen as trading at a discount to their intrinsic value. Over the long term the fund will aim to achieve consistent top quartile performance within its peer group, the IMA Global Growth sector. The portfolio will be unconstrained and constructed without reference to any benchmark.

The fund will be managed by Neil Veitch, manager of the SVM UK Opportunities fund and co-manager of the SVM All-Europe SRI fund. He will be supported by investment analyst James Cooke who recently joined SVM from the global equity firm Edinburgh Partners. 

“Within our UK-focused portfolios we have an emphasis on companies with overseas earnings and the SVM World Equity Fund is a natural step in extending our product range to tap into global growth,” said Mark Noble, head of retail sales and marketing at SVM AM.