GAM expands multi-asset range with pair of target return funds

Offer alternative to bonds

GAM has added two new target return funds to its multi-asset range to be managed by Larry Hatheway, the group's head of multi-asset portfolio solutions and chief economist.

The GAM Star Target Return and Star Target Return Plus funds seek to produce consistent, uncorrelated net returns of LIBOR +3% and 5% per annum respectively, without significant equity, duration or credit risk. The funds wil be invested in direct securities, holding around 20-30 positions each in global equities, bonds, currencies and commodities. The eight-strong team managing the fund is headed up by Hatheway (pictured), group head of multi-asset portfolio solutions and chief economist. GAM's Reece: How credit derivatives can help support bond fund performance Hatheway said: "...