MUMBAI: NewDawn GSE Asset Management Limited, a wholly-owned subsidiary of DIC Asset Management (DICAM) and the General Partner for the $2 billion Global Strategic Equities Fund (GSEF), has made a substantial investment in Sony Corporation (Sony), the consumer electronics and entertainment companies.

The investment is the third by GSEF in Global Fortune 500 companies following the recent purchase of substantial stakes in HSBC Holdings plc and EADS N.V.

Dubai International Capital LLC executive chairman and CEO Sameer Al Ansari said, “Sony provides GSEF with a compelling investment case, consistent with our mandate of supporting premier global companies. Whilst the restructuring process at Sony is well advanced, the recent successful listing of Sony Financial Holdings is evidence of management’s ongoing strategy of focusing on capital efficiency and cash generation. The combination of Sony’s truly global brand, its leadership in product design and its global footprint will spur the business’ medium term growth as it capitalises on positive underlying trends and emerging technologies.”

GSEF is promoted by DIC Asset Management (DICAM), the asset management subsidiary of Dubai International Capital (DIC). The fund seeks to become a leading shareholder in pre-eminent global large capitalisation stocks, whilst aiming to create value through long term exposure to a concentrated portfolio of undervalued companies.

NewDawn GSE Asset Management Limited, a wholly- owned subsidiary of DICAM is the General Partner for GSEF. DICAM and NewDawn GSE Asset Management Limited are licensed and regulated by the Dubai Financial Services Authority (DFSA) and GSEF is a DIFC registered fund.