The simplification of distributor status in 2004 was supposed to revolutionise the market, eliminati...
The simplification of distributor status in 2004 was supposed to revolutionise the market, eliminating the need for onshore mirrors and opening up fantastic new funds for UK investors. But three years later, SGAM is back to launching an onshore mirror for its US Value fund, after the $5bn product has taken in just $50m from UK investors. With the scarcity of quality US products in the UK, such a high-profile offering, which has drawn favourable comparisons with Bill Miller's portfolios for Legg Mason, seemed a great addition to the marketplace. The resounding lack of interest from UK ...
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