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 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
When Brewin's Gutteridge met BlackRock's easy Rieder

When Brewin's Gutteridge met BlackRock's easy Rieder

Following Federal Reserve chair Janet Yellen’s testimony, Ben Gutteridge, head of fund research at Brewin Dolphin, grills Rick Rieder, CIO of fundamental fixed income at BlackRock.

Play Sam Vecht: the best opportunities in frontier markets

Sam Vecht: the best opportunities in frontier markets

Blackrock's Vecht evaluates frontier markets and explains where he sees the opportunities

Play Where A-rated Pattullo is finding the best bond opportunities

Where A-rated Pattullo is finding the best bond opportunities

Henderson Global Investors head of retail fixed income explains how he is managing his fund against the surprise current monetary policy divergence.

Your Business: Cover Star Club

Profile: meet the man building Towry into an £11bn giant

Profile: meet the man building Towry into an £11bn giant

As a former engineer who worked on Hong Kong International Airport, Rob Devey is not afraid of taking on major projects

Wealth Manager on Twitter