GAM targets Europe for income strategy

The long-only retail fund will use quantitative screening and Hollyman’s value-based investment style to pick stocks on a bottom up basis. GAM cited historically low interest rates, rising yields in Europe and falling corporation taxes as helping create an income culture on the continent, and therefore the investment case for launching the fund. The product will be based on Hollyman’s GAM Star European Systematic Value fund, which, according to the fund house, has on a compounded basis delivered 26.55pc a year since inception in December 2004. GAM did not specify the level of yield the fu...