Mon, Sep 22, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

GAM to take a minority stake in US-based macro manager QFS, to launch UCITS version of flagship in coming months

Monday, January 14, 2013
Opalesque Industry Update - GAM Group AG (GAM), a wholly owned subsidiary of GAM Holding AG, has reached an agreement in principle to enter into a partnership with QFS Asset Management L.P. (QFS), a US-based alternative asset management boutique that specialises in currency, global macro and fixed income strategies.

As part of the agreement, GAM will acquire a minority stake of approximately 30% in QFS. The partnership will see GAM and QFS work very closely together, with GAM being responsible for the global distribution and marketing of existing and new strategies managed by QFS.

Following the formal closure of the agreement, GAM plans to introduce a UCITS product based on QFS’s flagship currency strategy in the coming months. Launched in March 1993 and trading in highly liquid instruments, the strategy has an outstanding track record of delivering uncorrelated alpha.

Since inception, it has delivered net returns to clients of 10.75% per annum (as at 31 December 2012). Over the same period its correlation to both global bonds and global equities has been very modest, at less than 0.1, differentiating it from many other alternative strategies.

David M. Solo, CEO of GAM, said: “The partnership with QFS is consistent with our strategy of expanding our leading offering of single manager alternative strategies. We are delighted to work with such a high-calibre investment manager with demonstrated investment capabilities over such a long period of time, delivering exceptional returns through differing market cycles. We are convinced that its experience in managing liquid, non-correlated and high-performing strategies will prove highly appealing to our sophisticated investor base.”

Karlheinz Muhr, Chairman and CEO of QFS, said: “GAM’s global client base and its skills in delivering unique absolute return strategies to clients make them an ideal partner for us. We are excited about this partnership, which will benefit our current investors and expand our reach into new client segments.”

Press release

www.gam.com

www.qfsfunds.com


Recent related news:
06.11.2012 - GAM's hedge fund team reports mixed results for October Source

Bg

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  3. Institutions - North Carolina workers call on state pension to dump up to $6bn in hedge funds, UK pension fund criticizes hedge fund fees[more]

    North Carolina workers call on state pension to dump up to $6bn in hedge funds From Forbes.com: The State Employees Association of North Carolina this afternoon called on state Treasurer Janet Cowell to withdraw all investments in hedge funds, which appear to amount to approximately $6 b

  4. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e

  5. Institutions - Adviser's faith in hedge funds unshaken by CalPERS' move Advisers weigh in on CalPERS’ decision, Gina Raimondo sees no reason to follow California’s lead, exit hedge funds, Danish pension funds step up 'alternative investments'[more]

    Adviser's faith in hedge funds unshaken by CalPERS' move From WSJ.com: Financial advisers who use hedge funds in their clients' portfolios say they aren't rethinking that approach after a huge California pension fund announced plans to exit the hedge-fund market. The decision by the Cali