By Leo Bland SG Asset Management is planning three fund launches while Lloyd George Management look...
By Leo Bland
SG Asset Management is planning three fund launches while Lloyd George Management looks to add a technology fund to its range. The two groups are the latest to reveal new products, joining a raft of 10 fund launches over the past week.
SocGen is set to launch a UK corporate bond fund in October offering around a 7% yield and also plans to launch in November what Investment Week understands will be a global stockpicking fund, which will focus on equities as the group already has a global mixed fund.
As previously reported in Investment Week, the group plans to launch a retail US fund by the end of the year to be run by Alan Torry.
Lloyd George Management is this week launching an Oeic fund investing in global telecoms, media and technology stocks.
The LG Global Information fund, will invest in 'information age' stocks including telecoms, broadcasting, cable and satellite television, publishing and advertising companies. The fund's remit also includes information and entertainment media companies, data processing, networking and communication systems. The fund will be managed by Jacob Rees-Mogg and Duncan Richardson, who jointly manage the EV Information Age fund for US investment group Eaton Vance, the fund on which LG Global Information will be based.
The EV Information Age fund is currently $336m in size and was launched in 1995. Rees-Mogg is senior fund manager at Lloyd George Management's London office and has managed the non-US weighting of the EV Information Age Fund since its launch. Richardson is vice president at Eaton Vance and has managed the US portion of the Eaton Vance fund since launch.
LG Global Information will have a portfolio of around 80 stocks with approximately 50% in the US, 15% in Japan and 10% in the UK.
Lloyd George Management focuses on factors including return on equity, P/E ratios, cash generation and strength of balance sheet when picking stocks. The fund will have around 26% in technology stocks, 13% in media, 10% in consumer cyclicals and 25% in telecoms.
There will be a fixed price offer period running until 19 September, offering shares at a price of 100p. The Oeic will have two share classes, with the retail share class having a £1,000 minimum investment. The initial charge is 3.5% on the retail share class and there is a 1.5% annual management fee. IFA commission is 3% initial and 0.5% renewal.
The technology fund is one of a series of launches in the industry over the past two weeks.
These include a a split cap investment trust from Aberdeen called the American Monthly Income Trust and Fidelity's four new global sector funds. Last week Deutsche announced its plans for a technology fund, Merrill's is looking to launch an onshore version of its Most UK fund, Cazenove launched a European funds, Newton revealed its European High Yield bond fund and LeggMason launched a US investment trust.
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