GAM veteran Andrew Green is to retire from fund management.
He will step down as lead portfolio manager at the end of the year.
Not one for the limelight, Green rarely spoke to the press or sought any form of publicity.
He had plenty to shout about if he so wished though, as he successfully navigated his funds through a range of extreme market conditions, including the dotcom bubble and the credit crunch.
Since August 1990 his UK fund has returned an outstanding 2,277% versus a 906% rise in the FTSE All share (see graph below).
He also performed exceptionally on the Global fund, returning 784% since December 1993, versus a 541% rise in the FTSE World index (graph below).
Although he currently does not hold a Citywire rating, his strong risk-adjusted performance over the long term means he has owned a rating for large periods over the last 15 years. This included a spell where he held a rating every month for five consecutive years from September 2002.
From the start of next year Chris Morrison and Adrian Gosden will be tasked with co-managing the GAM UK Diversified fund.
Gosden joined GAM from Artemis in September, while Morrison has been supporting Green at GAM for the last seven years.
The Global fund will pass to Ali Miremadi, who joined in 2016 from THS Partners, a long-standing sub-adviser to the GAM Star Worldwide Equity fund.
Green will continue to manage a few select mandates and will also provide advice and support to GAM equity teams in the new role of director of global equities strategy.
'I was fortunate to join GAM when it was first founded by Gilbert de Botton in 1983, and I look back fondly on those fascinating 34 years with the company,' Green said.
'Gilbert’s entrepreneurial spirit and innovative approach to meeting clients’ needs through active management are still at the core of GAM’s DNA.
'True to these values, Adrian, Chris and Ali are passionate about delivering meaningful returns for clients, and I wish them every success in the future. I look forward to working with GAM in my new advisory capacity.'
Group CEO Alexander S Friedman added: Throughout his professional life spanning nearly 50 years in finance, Andrew has gained legendary status in the industry. He is universally lauded as an outstanding and disciplined investor, a status underscored by numerous awards and accolades throughout his career.
'His investment philosophy has helped to create GAM’s conviction-led culture, forming one of the core principles on which our brand is built today.'