Global Asset Management (GAM) launched the GAM Asian Hedge Fund this week. The hedge fund wi...
Global Asset Management (GAM) launched the GAM Asian Hedge Fund this week. The hedge fund will be managed by Michael Lai, Inez Chow and John Mytton, GAM's Investment Director responsible for Asia ex-Japan investments.
The GAM Asian Hedge Fund will be broadly market neutral, with an occasional long or short bias, with the primary objective being to provide predictable and absolute returns in volatile market conditions. It will aim to outperform the MSCI All Countries Asia Pacific (Free) ex-Japan Index with significantly lower volatility and risk.
Mytton and the investment team will follow a top-down macro approach to determine country and sector exposure, whilst investments will be selected from a large-capitalisation universe.
The long portfolio will mirror the best selections of the long-only Asia ex-Japan funds, while the short portfolio will allow the fund manager to take selective shorts in the portfolio to provide opportunities for gains and will be confined to liquid markets where borrowing stock or index futures can be used for shorting or hedging purposes.
John Mytton commented: "While the Asian markets have been difficult to navigate over recent times, they still hold a place in the major world markets and offer good investment opportunities. The launch of GAM Asian Hedge, gives investors the means to invest in the Asian region through a fund that will concentrate on downside protection in falling markets, while taking advantage of gains on the upside."
The base currency is in US dollars, there is an initial charge of 5% and an annual charge of 1.5%. There is an annual performance fee of 20% of the net realised and unrealised gain for the year.
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