Wed, May 25, 2016
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. Paul Tudor’s hedge fund trims fee amidst poor performance, keep investors[more]

    Komfie Manalo, Opalesque Asia: Paul Tudor’s $11.6bn hedge fund firm Tudor Investment Corp. announced on Monday it would slash down fees of one of its biggest fund to 2.25% of assets and 25% of profits amidst backlash arising from poor performa

  2. West Virginia objects to Alpha Natural sale to hedge fund[more]

    From AP/Heraldcourier.com: West Virginia's environmental authority has filed an objection to the proposed $500 million sale of Alpha Natural Resources' assets to a hedge fund, arguing that the deal could leave the state holding hundreds of millions in reclamation liabilities. The Register-Hera

  3. Mitch Petrick leaves Carlyle as his hedge fund unit suffers losses while assets expand[more]

    Komfie Manalo, Opalesque Asia: Mitch Petrick will be leaving Carlyle Group as head of its hedge funds unit overseeing about $34bn as of March 31, after several funds under his management suffered losses while assets expanded, various media reported. Petrick joined Carlyle in 2010 and was a former

  4. Institutions - Kentucky pension leans into hedge funds amid governance turmoil, Korea's NPS names finalists for initial $1 billion hedge fund-of-funds allocation[more]

    Kentucky pension leans into hedge funds amid governance turmoil From AI-CIO.com: The Kentucky Retirement Systems moved to increase its hedge fund allocation as controversy reigned over fund leadership. Following a string of high-profile hedge fund exits, the Kentucky Retirement Systems (

  5. Fund Profile - The hedge fund that couldn't stay open long enough for a big payday[more]

    From Bloomberg.com: Toby Dodson waited six months for his bet against a fragile Portuguese bank to pay off. But before the reckoning, word came down from his hedge fund bosses at Achievement Asset Management in Chicago: get ready to clear out your desk and unwind your trades, we’re shutting down. Th