SG Asset Management hopes to get the go-ahead before Christmas to launch retail versions of its inst...
SG Asset Management hopes to get the go-ahead before Christmas to launch retail versions of its institutional US and corporate bond funds.
The two proposed funds which were first reported in Investment Week earlier this year, will be run by Alan Torry and Stephen Peirce, respectively, and will benefit from the 1% discount on all Isa business on its existing unit trusts
Torry who runs SG's technology and US institutional funds will manage the retail version of the US fund and the corporate bond fund will be run by Stephen Peirce who joined SG earlier this year to manage the institutional bond fund.
SG has already registered applications with the FSA for the two proposed portfolios which are to closely mirror the institutional versions of the two funds.
The discount is available on lump sum investments, including Pep and Isa transfers, until 30 April 2001. The minimum investment for each of the funds is £1,000 and the discount will be made by allocating extra units to the investor.
The charging structure of the proposed US fund will match SG's other retail equity funds.
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