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This fund consists of a mix of five different US equity strategies run in house by Soc Gen. The aim is to provide a core US equity product that will provide outperformance in rising and falling markets by optimizing the exposure to different strategies. The performance benchmark is the Russell 1000 Index, tracking error will usually be in the region of 5-7%.
The five strategies include large cap growth, large cap value, mid cap growth and mid cap value. Exposures to the large cap strategies will usually be in the range of 20-60% and mid cap strategies 5-15%, (midcap strategy weightings will invariably closer to the lower of this range due to the impact on tracking error). Instead of investing in these strategies directly via sub accounts, the American Growth Fund will duplicate all their underlying holdings.
The allocation between the five strategies is reviewed on a monthly basis by an asset allocation committee consisting of five senior investment professionals, chaired by Komal Sri-Kumar. Allocations are determined according to their interpretation of the economic / sector outlook and company valuations therein. The estimated attribution of returns is 65-70% stock selection, 25-30% asset allocation.