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