SG Asset Management (SGAM) is to launch a series of hedge funds from September, the first of which w...
SG Asset Management (SGAM) is to launch a series of hedge funds from September, the first of which will be a European long/short portfolio.
The funds will be part of the group's alternative investment division, launched in July.
Arie Assayag, SGAM's global head of hedge funds, said the division 'has the objective to build a group of hedge fund strategies including long/short equity, relative value and directional strategies'.
It also plans to launch a number of single strategy funds and funds of hedge funds, later this year. The portfolios will be available to external investors as well as private clients where appropriate.
The European long/short portfolio will employ a systematic process of stock picking and market timing, said Assayag, who began his career at SociÃ©tÃ© GÃ©nÃ©rale as a foreign exchange and derivatives market maker before becoming head of the foreign exchange desk in Tokyo in 1987.
Assayag joined the asset management portion of the SociÃ©tÃ© GÃ©nÃ©rale group to develop the company's activities in hedge funds.
The European portfolio, to be managed by Franc Viver, will likely be followed by equity strategies and a relative value strategy later in October. Although the company has had a fund of hedge funds running in-house since July for evolving hedge fund managers, the portfolio will only begin accepting outside investment in September.
Assayag said SG Asset Management also harbours plans for further fund of hedge fund launches later in 2003.
'In the long term, the challenge is to build products with a more specific profile of performance and to explain to our clients, private or institutional, how to use them,' Assayag said.
The division's remit also involves looking after guaranteed and structured products, which will be overseen by Jacques Lucas. He will also be in charge of money and index funds.
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