Monday, 27 April 2015
Last updated 55 min ago
Oct 9 2008 | 11:09am ET
GAM is reportedly planning to close a long only fund after receiving redemption notices for more than 50% of the net asset value.
The GAM Star International Equity Fund will close its doors on Oct. 13, Reuters reports. The fund managed some $18.5 million as recently as last month, but is down to just $6.1 million. GAM said the fund’s current size is “no longer considered viable particularly as the fund's manager, Sean Taylor, was relocating to GAM's Dubai office to focus on managing his existing emerging market portfolios, which stand in excess of US$500 million.”
The firm said it recently added to its stable of in-house managers and hired investment director, Mark Hawtin, who will shortly manage an international equity mandate.
Shareholders have been given the option of getting their money back or investing it in another fund in the Star range without charge.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…