Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

GAM proposes tech makeover for Hawtin’s Europe fund

GAM proposes tech makeover for Hawtin’s Europe fund

Citywire AAA-rated Mark Hawtin’s European long/short fund is to be turned into a global long/short tech fund, Wealth Manager can reveal.

Subject to investor approval, the investment policy of the £33 million GAM Star Absolute Europe will change to focus on technology companies with no market capitalisation or geographic constraints. It will duly be renamed GAM Star Alpha Technology.

Hawtin (pictured) already runs the £350 million long-only GAM Star Technology fund, which has returned 53.5% since its launch in 2011 compared with 30.9% from its benchmark MSCI World Information Technology index. Within that fund Hawtin’s top holdings are Apple and Google, which together account for 16.5% of the portfolio.

The new strategy will differentiate itself by retaining the long/short approach, with short positions expressed through derivatives. GAM Star Absolute Europe already has a tech skew, with the largest holding being Danish telecoms group TDC. Contracts for difference in ARM and Vodafone also appear in its top 10.

As well as internet businesses and technology manufacturers, the fund will invest in companies ‘which utilise business models that are driven by new technologies’. GAM is also seeking permission for the fund to hold convertible securities and exchange-traded funds. The base currency of the fund will switch from euros to US dollars too.

Investors’ agreement to the amendments will be sought at a meeting on 4 February; those who wish to will have the opportunity to redeem their units before the charges are implemented.

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

Mark Hawtin
Mark Hawtin
16/25 in Equity - Technology (Performance over 3 years) Average Total Return: 54.13%
Citywire TV
Play Picton: the UK property hotspots for rental income

Picton: the UK property hotspots for rental income

Picton Property Income CEO Michael Morris reveals how he is planning to ride the ‘ripple effect’ as UK economic growth spills out from the capital across the country.

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

This week Brewin Dolphin's head of research talks to Mike Riddell, fund manager at Allianz Global Investors, about the forces driving bonds markets in a tumultuous week for markets.

Play Henderson's Hermon: how to be defensive in smaller caps

Henderson's Hermon: how to be defensive in smaller caps

Hermon, who manages the Henderson Smaller Companies trust, talks about he will tackle a 'challenging' 2016.

Your Business: Cover Star Club

Profile: 'what we are doing at Mosaic is Darwinian'

Profile: 'what we are doing at Mosaic is Darwinian'

The changes in financial services over the last few years may leave some destitute warns Marco Sambucci of Mosaic Money Management

Wealth Manager on Twitter