Gam is to soft close Citywire + rated Michael Lai’s GAM Star China Equity fund, which currently runs $2.42 billion, once assets pass $2.6 billion (£1.56 billion).
‘Due to the strong performance of the fund, once the fund's assets under management reach $2.6 billion, only existing investors and new clients in the final stages of the due diligence process who have been approved by the administrator may make further contributions to the fund,’ it said.
Lai (pictured) has been a stand-out performer over the last 12 months, returning 11.18% over the period versus an 8.28% loss on the MSCI Zhong Hua benchmark.
The fund is currently first of 15 funds over three years in its Equity – China sector.
Speaking to Wealth Manager at the beginning of 2013, Gavin Haynes of Whitechurch Securities in Bristol tipped GAM Star China as one of his core picks in the sector
‘[Lai] takes a high conviction, aggressive investment approach with no constraint, running a focused portfolio of around 40 stocks,’ said Haynes.
‘His focus on quality, pricing power and making important top down thematic calls has seen the fund outperform in rising markets and hold its own in trickier times.’