GAM issues waiting list on Catastrophe Bond fund

Investment manager GAM has slowed inflows into its catastrophe bond fund, launched in the fourth quarter of last year, due to capacity constraints in the sector.

It will be operating a waiting list on new subscriptions to its $180m GAM Star Catastrophe Bond fund due to a lack of new issues for fund managers to invest in. The arrangements are expected to be temporary and are being put in place to maintain integrity in the investment strategy and preserve the interests of investors, according to GAM. The group expects some capacity to become available over the summer months but does not expect the constraints to be lifted until primary catastrophe bond market issuance levels recover later this year. The GAM Star Catastrophe Bond fund has retu...