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30 Jan, 2008


Published: 12:24 Wednesday 30 January 2008
By: Dylan Lobo, Investment News Editor

The emergence of India has compelled Société Générale Asset Management (SGAM) to seek to change the investment objective of its Asia-focused fund.

The £30 million SG Pacific (SG Pacific Retail Acc) fund, which launched into the UK retail market in March 2004, is run by Shaun Giacomo out of Singapore.

Its current investment objective is to achieve capital growth through investing in the quoted securities of companies operating in the countries bordering the Pacific Ocean, excluding Japan.

Under the new proposals this remit will change to allow for investment across all the countries in the Asia Pacific region, excluding Japan.

To reflect the inclusion of India, alongside the likes of Indonesia, Malaysia and Thailand, SGAM will rename the fund SG Asia Pacific Fund. Its benchmark will change from FTSE Asia Pacific excluding Japan to the MSCI Asia Pacific excluding Japan benchmark.

SGAM head of marketing Mik Bates said there would be no significant changes to the way the mandate is run. He said: 'We won't change how the fund is managed. It is a logical to want to include a market like India in an Asia Pacific fund.'

SGAM has written to shareholders to inform them of its plans and hopes to be running the fund along the new investment guidelines by 1 March.

According to Lipper, in the three years to the end of December the SG Pacific fund has returned 123% versus a peer group average of 119%.

       
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