SGAM gets approval for Special Situations fund

SG Asset Management has received FSA approval for the launch of its UK Special Situations Fund, as exclusively revealed in Investment Week last month. The fund, which will be managed by Hari Sandhu, will only have a one-day launch, which is expected to be on 18 December, as the group wants the fund to be up and running before the end of the year. The fund will carry a 5.25% initial charge and a 1.5% annual management fee. 3% commission is available with a 0.5% renewal on Isa and Pep transfers.