GAM repurposes underperforming fund as new OEIC for Mark Hawtin

Will reflect Star Disruptive Growth fund

GAM Investments is revamping its £88.8m Global Diversified fund to an OEIC version of its GAM Disruptive Growth fund, run by Mark Hawtin.

The Diversified fund, run by Kevin Kruczynski, has returned 23.8% in the three years till 21 January, while the MSCI world has returned 51.1% and the IA Global sector is up 47%, according to FE fundinfo. From 31 January the fund's strategy and holdings will change to reflect the Irish-domiciled $842.2m Star Disruptive fund, which the group said they have seen "strong demand" for in the UK. While UK investors could invest in the Dublin UCITS fund it was not available as a UK domiciled fund.  Rob Bailey, head of UK distribution at GAM, said this was "the first of a series of enhancem...