GAM launches retail fund of hedge funds

GAM has launched a UCITS III version of its fund of hedge funds, GAM Trading, aimed at retail investors.

Named GAM Star Trading, it is run by David Smith, chief investment director and head of GAM’s multi-management business. The fund is domiciled in Dublin. Matthew Lamb, head of UK mutual funds at GAM, says the fund was launched in response to demand for the growing number of macro and managed futures strategies, but in a regulated structure. “The historic track record of GAM Trading has consistently delivered LIBOR + 5% returns with lower volatility and a smaller maximum drawdown than the government bond markets, but it is difficult for investors to make the leap from bonds to offshore...