EUROPE (incl-UK) - Global Asset Management has launched sterling and euro versions of its fund-of-hedge funds.
The fund manager claims the move will make it easier for schemes to invest in the asset class.
The GAM Diversity fund-of-hedge funds has produced a compound growth rate of 12.9%, since its inception in 1989. GAM said launching the two versions of the fund – which currently has US$1.9bn (£1.2bn) in assets – would make it more attractive to schemes that wish to hold either sterling or euro-denominated investments.
The launch of the sterling and euro versions also means the fund manager is eligible for inclusion within a self-invested personal pension, providing investors with a tax-efficient way of accessing a fund-of-hedge funds.
GAM managing director, clients, Jonathan Moseley said: “Investors are expressing an increased interest in alternative investments and in particular, funds-of-hedge funds.
“GAM Diversity has provided investors with consistent returns and low correlation to equity and bond markets since its launch in 1989.
“The new sterling and euro-denominated classes will be particularly appealing to UK and European pension funds.”
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