GAM is to cap its UK hedge fund when it reaches £200m to protect the interests of existing sharehold...
GAM is to cap its UK hedge fund when it reaches £200m to protect the interests of existing shareholders.
The £152m portfolio, managed by Ross Hollyman, is at the same time to change its name from the GAM UK Hedge Fund to the GAM UK Equity Hedge Fund in a move to clarify its mandate.
Hollyman said: "The fund seeks value in the UK market across the market cap scale, with small-cap companies making up approximately 30% of the strategy. Further growth in the fund may constrain the implementation of this strategy, given the nature of the small-cap market and its relative lack of liquidity."
The capping will not affect the way in which the fund is managed. It will continue to seek absolute returns, primarily though investment in UK equities on both the long and short sides of the market. Hollyman will continue to invest in companies with positive momentum, low valuations and/or high quality earnings.
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