SG Asset Management is to increase its offering to UK investors by adding a distributor share class ...
SG Asset Management is to increase its offering to UK investors by adding a distributor share class to 12 of its offshore funds, the Sogelux range.
The group is now seeking authorisation from the Luxembourg regulator and the new share class is likely to be available from November.
Richard Phillips, joint head of retail at SG Asset Management, said the funds are initially expected to appeal to multi-managers and institutional investors.
SG is also liaising with First European Transfer Agent (Feta), which will enable SG to pay commission to intermediaries on the offshore funds. This arrangement is likely to be set up by the end of 2004.
The portfolios to acquire distributor status include three bond funds, namely Europe High Yield, US High Yield and US MBS. Also included are six North American funds managed by SG subsidiary Trust Company of the West (TCW).
SG transferred the management of the SG American Growth fund to TCW in March 2004. This fund invests in four separate US strategies namely US Concentrated Core, US Large Cap Growth, US Mid Cap Growth and US Value Opportunities and investors will now have the opportunity to invest directly in these.
Other funds available include a China, Japan Concentrated Value and Eastern Europe fund.