GAM has taken a stake in QFS as it looks to team up with the US alternatives manager to expand its offhshore Star fund range.
David Solo, GAM's chief executive officer, said the partnership is consistent with its strategy of expanding its best offering of single manager alternative strategies.
'We are convinced [QFS'] experience in managing liquid, non-correlated and high-performing strategies will prove highly appealing to our sophisticated investor base,' Solo explained.
GAM's stake represents only a minority interest in QFS but the deal will see it take on responsibility for distribution. Once it has been formally signed off GAM plans to launch a Ucits offering based on QFS' flagship currency strategy, which since its inception in 1993 has delivered annualised net returns of 10.75%.
The new strategy will sit in GAM's existing Star range and GAM take charge of the global distribution and marketing of the strategies managed by QFS.