GAM To Close Small Equity Fund

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.

 

 


In Depth

FINtech Focus: Fundbase Aims To Revolutionize Access To Hedge Funds

Jan 23 2015 | 11:03am ET

Global investment in financial technology—also known as fintech—is booming....

Lifestyle

Looking For A Hedge Fund Manager? Try Davos

Jan 28 2015 | 8:48am ET

Davos, Switzerland seems to have become the hedge fund capital of the world—at...

Guest Contributor

From Switzerland With Love: Some Hard Truths About Central Banks And Risk

Jan 23 2015 | 7:54am ET

In the wake of the Swiss National Bank uncoupling the country’s currency from...

 

Editor's Note