SOCIÉTÉ GÉNÉRALE CHINESE VENTURE REPORTS STRONG INFLOWS

Posted March 18, 2008

PARIS – Since obtaining a license to operate in August 2007, Société Générale Asset Management’s joint venture with Chinese industrial group Baosteel, Fortune SGAM, multiplied its assets under management by 4.5 as of the end of 2007.

The venture was awarded one of the few separate account licenses allocated in China, authorizing it to offer investment mandates for Chinese institutional clients. Fortune SGAM obtained one of the first five Qualified Domestic Institutional Investor (QDII) licenses, allowing it to offer funds invested outside China to Chinese investors.

Due to strong inflows, the venture’s assets under management reached $11.6 billion by the end of December 2007. The venture manages nine funds for 2.4 million clients.