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
Play Taxicab Tenner: AXA IM's Nicolas Trindade

Taxicab Tenner: AXA IM's Nicolas Trindade

After a summer break, it is the turn of AXA Investment Manager's Nicolas Trindade to give a £10 view of how fixed income is faring.

Play Wealth Manager Olympics: the Relay

Wealth Manager Olympics: the Relay

In the final round of the Wealth Manager Olympics, our intrepid athletes team up for the relay.

Play Wealth Manager Olympics: the Shot Put

Wealth Manager Olympics: the Shot Put

After busting a gut in the 100m sprint, our wealth manager Olympians displayed their brute strength in the shot-put.

Read More
Your Business: Cover Star Club

Profile: gearing up for the shift from consolidation to start-ups

Profile: gearing up for the shift from consolidation to start-ups

‘I think the industry is evolving rapidly, but not necessarily as a whole,’ says the head of recently launched Charles Nicholson AM

Wealth Manager on Twitter