GAM, the big London-based alternative asset management firm, is planning to move the investment management of one of its absolute return UCITS fund in-house.
The GAM Star Pharo Emerging Market Debt & FX Fund, which is sub-advised by Pharo Global Advisors, will be run by GAM investment director Paul McNamara from next month – subject to regulatory approval.
Concurrently, the fund’s name will change to GAM Star Emerging Markets Total Return. This follows the asset manager’s integration of fixed income and currency specialist Augustus Asset Managers.
McNamara, who is responsible for approximately $7.6 billion of client assets, joined GAM with