Saturday, 30 July 2016
Last updated 18 hours ago
Oct 1 2007 | 11:30am ET
London-based Gems Advisors has appointed Stuart MacDonald, a former director of Shore Capital and Henderson Global Investors, as a director.
Miguel Abadi, CEO and co-founder of Gems, said, “I am delighted that Stuart has chosen to join us at a time of continuing expansion. Investors continue to benefit from Gems' long experience and highly disciplined investment and risk management processes.”
Separately, the firm said its main funds, the Gems Recovery portfolio and multi-strategy portfolios were largely unaffected by the recent market turmoil. After strong July performances, August showed a gain for the Gems Recovery portfolio, a $712 million fund of funds, of 1.48% and 23.83% year-to-date while the Gems multi-strategy and low-volatility portfolios were down by 1% and 1.5% respectively, but are up for the year by 11.2% and 14.24%.
The Gems group was founded in 1987 and currently manages nearly $4 billion in assets.