SocGen Asset Management is going stateside with the SocGen American growth fund.
The fund is a unit trust and is aimed at experienced investors who are either looking for exposure to America, or who are looking to add a US fund to an existing portfolio.
The fund will invest in a wide spread of American companies in different sectors across the US economy. These will include companies such as General Electric, Exxon Mobile, Microsoft, Johnson & Johnson and Bank of America. It may also invest in a small number of companies in Canada as well as Latin America.
American growth will be managed Alan Torry, who has been managing the SocGen US equity fund since 1998 and who has more than 26 years of experience in the US sector.
Although the US economy has stabilised after five interest rate cuts in the first half of 2001, it is still uncertain if this has been enough to avert a recession.
According to Standard & Poors the SocGen US equity fund is ranked 9 out of 76 funds, based on £1,000 invested on a bid-to-bid basis over three years to June 11, 2001.