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SG UK Growth and SG UK Special Situations

By MARCEL PORCHERON 05/05/2006

SG UK Growth and SG UK Special Situations by Marcel Porcheron
SG have announced that Hugh Sergeant is to leave Societe Generale. He has run the UK Growth and UK Special Situations funds for the company along with Harinder Sandhu, who will continue to manage these mandates. Sergeant leaves following a difficult period for the relative performance of the fund.

Recommendation

We have removed our buy rating from both the SG UK Growth and the UK Special Situations following the announcement of Sergeant’s departure. Investors should hold on for the time being until we have further news of SocGen’s replacement plans. At that time we will re-evaluate the funds and make a decision.

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