Thomson Financial- Major French financial services group Societe Generale plans to establish in Japan an asset management company specializing in hedge funds and other sophisticated investments totap expected demand growth, the online Nikkei business daily reported Saturday.<\/p>\n
It quoted Societe Generale Chief Executive Officer Philippe Citerne as saying in an interview that the move is aimed at strengthening the development of investment products geared toward individual investors and regional banks.<\/p>\n
The new company will devise products tailored to individual investors, such as hedge funds with guaranteed principal, and market them through banks and other channels, Citerne, said adding it plans to increase the number of sales partnerships with financial institutions in Japan as the shift from savings to investments accelerates.<\/p>\n