SG Asset Management this week launches a US unit trust for the retail market, run by Alan Torry. ...
SG Asset Management this week launches a US unit trust for the retail market, run by Alan Torry.
The SocGen American Growth unit trust is based on the group's existing institutional US portfolio. In addition to Torry, the SG North America team includes Sam Mercer-Nairne and Takouhi Tchertchian.
The fund offers 3% initial commission and 0.5% renewal for Isa and Pep investments. It has a 5.25% initial charge and a discount of 2% is available in the form of bonus units during the launch period, which runs from 11 June until 29 June. The annual management fee is 1.5%.
While the primary focus of the portfolio will be on the US, it will have the ability to invest in Canada and Latin America, unlike the institutional version.
SG estimates there will be up to 80% overlap between the two portfolios and the retail product will be able to have larger individual stock weightings.
Torry said: 'After a period of volatility within the leading US indices, the market has entered a period of consolidation, which we expect to be brief. While the summer months may still show some uncertainty, the five interest rate cuts so far this year, and the improved economic outlook, will create good buying opportunities.'
Over three years to 1 May SocGen Institutional US Equity is ranked seven out of 78 funds in the North American sector, offer to bid with net income reinvested.
For further information, call 0808 100 4432.
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