Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

GAM co-founder to launch UK office for Swiss boutique

GAM co-founder to launch UK office for Swiss boutique

GAM founding member and director Jeremy Smouha (pictured) has left the firm to launch a UK office for Swiss-based corporate bond specialist Atlanticomnium.

The bond boutique will launch into the UK under Smouha, who joins as chief executive. It will continue its long-standing relationship with GAM, which is a distributor of its funds.

Smouha, who was formerly a director at GAM, said he felt it was time to step back from the role to launch a London office for Atlanticomnium to expand its European distribution. He remains a senior adviser to GAM.

The London office will promote the GAM Star Credit Opportunities fund, a Ucits version of the strategy that launched last year and is based on a fund Atlanticomnium has run since 1985. Managed by Smouha's brother Anthony, the fund targets a gross yield of over 7% and has posted a 20.6% return over the past year.

As Smouha anticipates the 30-year bull market in bonds to end soon, he expects Atlanticomnium’s focus on backing higher yielding junior debt in quality companies to help differentiate it from competitors.

‘We suspect the end of the 30-year bull market is here, so we are concentrating on having a very low duration. We will do this by trying to have high coupons to reduce interest rate sensitivity and we have long experience in buying discounted floating rate notes,’ he said.

Atlanticomnium will target investment managers, IFAs and private clients, alongside charities and pension funds. The boutique currently manages around $700 million, with around $500 million in funds.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Related Fund Managers

Anthony Smouha
Anthony Smouha
3/47 in Bonds - Sterling Strategic Bond (Performance over 3 years) Average Total Return: 50.21%
Citywire TV
Play Navigating geopolitical risk with ETFs

Navigating geopolitical risk with ETFs

ETFGI’s Deborah Fuhr on how investors can use exchange-traded funds to position their portfolio.

Play Sarasin’s Boucher: why I like salmon with chocolate

Sarasin’s Boucher: why I like salmon with chocolate

Henry Boucher, manager of the £129 million Sarasin Food & Agriculture Opportunities fund, explains why he is gobbling up salmon and chocolate stocks.

Play Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Libby Ashby and leading wealth managers analyse what the Alibaba IPO hype means for Chinese equities, slowing growth of the UK economy and whether there’s anything left to play for in the European sovereign bond market.

Your Business: Cover Star Club

Profile: Barclays' former advisory boss on his move into property

Profile: Barclays' former advisory boss on his move into property

On paper, Rick Denton might have been expected to finish his career in banking

Wealth Manager on Twitter