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 to close inflation-focused fund

GAM to close inflation-focused fund

The GAM Star Global Equity Inflation Focus fund is to close this month, Wealth Manager can reveal.

The fund, managed externally by US firm Manning & Napier Advisors, held more than £80 million at the end of 2012 but now contains less than £5 million.

Due to this small size, GAM will liquidate the fund on 17 January.

In 2013 the fund returned 9.9%, compared with 21.1% from its benchmark MSCI World index.

Launched in 2011, the fund’s objective was to invest in the companies best positioned to provide inflation protection without any sector, style or market cap bias.

Its top holding is currently Cameron International, which sells flow management systems to the oil and gas industry. The Texas-based group’s share price collapsed by 14% in a single day in October after it reported weak quarterly earnings.

GAM confirmed the fund's planned closure and declined to provide further comment.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Brewin's Gutteridge: bonds with Ian Spreadbury

Brewin's Gutteridge: bonds with Ian Spreadbury

This week Brewin Dolphin's research head chats to Fidelity's Ian Spreadbury about the recent behaviour of interest rates and credit spreads.

Play Can tech advances explain the UK productivity puzzle?

Can tech advances explain the UK productivity puzzle?

Much of the productivity puzzle of the last eight years may be explained by a failure to capture new tech

Brewin's Gutteridge: Yuan direction

Brewin's Gutteridge: Yuan direction

This week Brewin Dolphin's research head chats to Fidelity Asian Investment Directors Jenny Lee and Gary Monaghan about the big changes in China.

Your Business: Cover Star Club

Small is beautiful: wealth firms still see value in less rich

Small is beautiful: wealth firms still see value in less rich

Latest statistics from findawealthmanager.com show that there are many firms who still service smaller clients.

Wealth Manager on Twitter