SVM UK Emerging, co-managed by Margaret Lawson (pictured) and Colin McLean, has published its results for the year that ended 31 March 2014. Over the year the net asset value generated a total return of 37.2% – over 20% ahead of the company’s benchmark (the IMA UK All Companies Sector) which returned 17.1%. The return to shareholders was 34.3%. This reversed some of the underperformance of the previous couple of years (but NB the benchmark was changed in October 2013).
The performance was helped a little by the manager waiving its management fees.