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 unveils ‘tactical’ multi-asset fund

GAM unveils ‘tactical’ multi-asset fund

GAM has launched a fund that will invest across all asset classes to exploit mispricing opportunities.

The GAM Star Tactical Opportunities fund will be run by the firm’s managed portfolios investment team, which is headed by former Wealth Manager cover star Graham Wainer.

It will seek long-term capital appreciation by allocating across equities, fixed income, currencies, and indirectly in property and commodities. It will also employ long and short derivative instruments, which could entail the use of leverage, as well as relative value pair trades.

Although nominally unconstrained, the fund will observe certain caps to its weightings. These include a maximum of 30% in sub-investment grade bonds, 20% in other funds, 20% in convertibles, and 20% in commodities. GAM clarified too that ‘most’ of the fixed income exposure will come from developed market issuers.

The investment team will base its tactical allocations on market sentiment, macroeconomic conditions and corporate earnings estimates.

GAM explained that the team ‘employs a process of fundamental analysis to identify the opportunities and mis-pricing which occur across equity, fixed income and currency markets around the world’, and confirmed that it would draw on ‘a range of external resources as well as the expertise and knowledge of other specialist investment managers within the GAM group’.

The fund has a base annual fee of 0.75% on the institutional share class and 1.5% on retail classes, with a 10% performance fee.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Related Fund Managers

Citywire TV
Play IBT's Craig: Why we upped gearing following biotech sell-off

IBT's Craig: Why we upped gearing following biotech sell-off

International Biotechnology trust, managers Ailsa Craig and Cal Harald Janson, are continuing to find attractive opportunities, particularly in European names.

Play Sector Spotlight: Thomas Miller's Jordan Sriharan on bonds

Sector Spotlight: Thomas Miller's Jordan Sriharan on bonds

With the US interest rates on hold for now, we suss out how wealth managers are managing their fixed income exposure in this environment.

Play Kames' CIO: US bowed to international pressure

Kames' CIO: US bowed to international pressure

Stephen Jones, chief investment officer of Kames Capital, said the US domestic economy passed the test, but international concerns weighed heavy.

Wealth Manager on Twitter