GAM is reaching out to retail investors with its latest alternative energy offering.

The US$64 billion fund of hedge funds has launched the GAM Multi-Environmental, a concentrated portfolio of between eight and 12 underlying managers diversified across clean technologies including water, commodities, alternative energy and natural resources. The fund invests primarily in long/short equity funds with additional allocations to macro and arbitrage strategies.

Catherine Cripps, who is responsible for market neutral and long/short equity strategies and is the head of research for the firm's multi-manager team, is the fund’s portfolio manager.

“As conventional sources of energy become more expensive and less reliable, corporations and governments are turning increasingly towards clean technology,' said David Smith, GAM's chief investment director for multi-manager business. “This in turn has led to a dramatic boom in the green economy, creating many new investment opportunities.”

The fund charges a minimum initial subscription of £15,000 (US$29,000) and offers quarterly redemptions.