By ROBERT HARLEY 23/06/2008
Soc Gen have announced that Alan Torry, named manager of their Technology Fund for the past 10 years, is to the leave the company to pursue other opportunities. He will hand over responsibility of the fund to Hugh Grieves, who has been number 2 for the last 8 years. Soc Gen have stated the intention is that the fund style will remain unchanged under the new manager.
We have suspended our 3 star rating for the fund following this change. Historically technology has proved to be a difficult sector for active managers to add value, with little evidence of reasonably consistent, active returns, being achieved.