UK retail investors will be able to buy into SG Asset Management's Sogelux SICAV funds based in Luxe...
UK retail investors will be able to buy into SG Asset Management's Sogelux SICAV funds based in Luxembourg from tomorrow, giving investors a range of almost 60 funds to select from.
The range of 47 offshore sub-funds have now received authorisation from the FSA to be sold to the UK market from July 1st, alongside the 10 existing UK onshore funds.
Funds will cover a variety of investment strategies, including bonds, money markets, global, regional and sector equity funds.
Three classes of share are available, but the main class aimed at retail investors in the A class which carries a one share minimum investment, or the P - for privilege - shares which might suit larger private or smaller institutional investors with investments of at least Euro1.5m.
Initial charge is 5% with annual management charges of between 0.3% to 2%.
SGAM says feedback it has already received from IFAs indicates there is real interest in the US concentrated core fund managed by Glen Bickerstaff at TCW on Wall Street, as well as the European high yield bond fund and the International equity fund managed by the SGAM team in London.
Developed by industry-wide group
Joined in 2002
'Educate clients' children'
Raised £15m earlier this week
From 8pm Friday 19 October