Global macro and managed futures fund, GAM Star Global Rates, has broken through the $1 billion barrier, according to figures submitted to the Absolute UCITS research and data team.
It is the first absolute return UCITS fund from the London-based asset manager, which runs a total of $57.5 billion, to break through the billion dollar mark.
At 30 June 2011 the capped fund run by Adrian Owens had assets under management of $1.03 billion. GAM runs 10 single manager absolute return UCITS funds with total assets of $2.4 billion.
The fund invests in government bonds and global currencies. It