GAM's North American Growth fund, run by Gordon Grender, has averted an exit into the IMA's unclassi...
GAM's North American Growth fund, run by Gordon Grender, has averted an exit into the IMA's unclassified sector by taking its US equity exposure from 58% back to the required 80%. A combination of significant inflows, which saw the fund grow from £28.1m in March to £44.4m in November, and poor market conditions resulted in Grender's cash position rising to nearly 42% by the end of November. Martin Harrison, director of mutual funds at GAM, said the fund has an emphasis on smaller companies. Difficult market conditions have led to a dearth of short-term buying opportunities in US small c...
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