SGAM Alternative Investments has received authorisation in France, Italy, Portugal, the Netherlands, Spain, the United Kingdom, Austria and Germany for SGAM AI Equity Fund, a Ucits III Sic
SGAM Alternative Investments has received authorisation in France, Italy, Portugal, the Netherlands, Spain, the United Kingdom, Austria and Germany for SGAM AI Equity Fund, a Ucits III Sicav fund that offers institutional and retail clients access to hedge fund specialists managing long-only or long-biased equity strategies.
The Luxembourg-domiciled Sicav umbrella fund was launched last September with three sub-funds providing access to long-only and long-biased US equity strategies implemented by three leading hedge fund managers, Caxton Associates, Highbridge Capital Management and Renaissance Technologies.
The three sub-funds aim to outperform the S&P 500 index using diverse investment approaches. The SGAM AI Equity Fund – Caxton Equity employs a bottom-up, research-driven management style, blending a growth/value approach with an opportunistic trading overlay.
The SGAM AI Equity Fund – Highbridge Statistically Enhanced Equity Portfolio U.S. uses a purely quantitative management style based on statistical arbitrage models, while the SGAM AI Equity Fund – Renaissance Institutional Equity uses mathematical and statistical methods in the design and execution of investment programmes.
The SGAM AI Equity Fund offers investors mutual fund-like characteristics such as daily liquidity, multi-currency share classes and accessibility, combined with a much lower minimum investment threshold than is normally applicable to funds with equivalent strategies. The minimum subscription to any single sub-fund is 1,000 USD, EUR, GBP or CHF (depending on the share class).
Thanks to its Ucits III-compliant structure, SGAM AI Equity Fund can be offered to a broad range of investors in Europe and in other jurisdictions where the fund has received authorisation. SGAM AI says it plans to launch other sub-funds in the SGAM AI Equity Fund in the near future.
SGAM Alternative Investments is a wholly owned subsidiary of Société Générale Asset Management with EUR53.3bn in assets under management at the end of March and 360 employees worldwide. The SGAM Group as a whole, including TCW and BAREP, manages a total of EUR66.6bn in alternative investments assets, of which EUR13.4bn is in hedge funds. SGAM had a total of EUR371bn in assets under management at the end of March.