UK - Global Asset Management (GAM) has lured Ansbacher's Keith Guthrie as investment manager within its London-based multi-manager team.
Guthrie will be responsible for the management of UK onshore investments. Previously, at Ansbacher he headed up international investment research for three years and advised on multi-manager equity and bond portfolios valued at $400m.
He reports to David Smith, chief investment director of GAM’s multi-manager team.
Additionally, GAM has hired two investment analysts - Parin Tolia and Andrew Hutson - to the London and New York teams respectively.
On a separate note, the firm also added that its flagship hedge fund of funds, GAM Diversity, returned a positive 7.9% with a volatility of -3% in 2001, compared to a MSCI World Index negative return of 16.5%. Since its inception in 1981, the fund has outperformed the index over 10 years, five years and one year, said the firm.
GAM is a subsidiary of Swiss group UBS and a division of UBS Asset Management. The firm specialises in multi-manager funds and alternative investments for global institutional clients. The firm added that multi-manager funds under management rose by 62% during 2001 to $5.8bn. Overall, total assets under management by GAM reached $14.6bn.
By Madhu Kalia
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