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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

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