Societe Generale (SG) is launching a fund - Asia e-business - which seeks high capital growth by investing in existing Asian companies which are using Internet-based technology to enhance their profitability and shareholder value by reducing operating costs and increasing their revenue streams.
The fund invests in companies using Internet technology to improve internal business processes, business relationships, the buying and selling of goods, services and information between businesses and from businesses to consumers.
'We are launching this in the United States, Europe and Japan. We strongly believe that the phenomenon that has happened in the US will go the same way in Asia and will provide high returns at the end of day,' Daniel Truchi, SG's private banking managing director for Asia, said.
He said SG carried out a great deal of research and placed emphasis on the timing of investing.
The investment team screened all stocks to identify companies which operated within one or more of five e-business models.
The models included infrastructure provider businesses such as cable TV operators, commerce involving financial service providers, transportation and consumer goods, content providers such as entertainment, software which refers to application solution providers such as IT consulting and auxiliary services such as logistics, corporate services, marketing and other service providers.
