GAM Systematic Core Macro

GAM Investments has launched a new wholesale absolute return fund into the Australian market, called the GAM Systematic Core Macro Fund.

GAM says the fund invests using strategies that are classified as value and carry (seeking to capture multiple carry and 'global tactical asset allocation -style' returns via several distinct strategies across four macro asset classes) and trend (seeking to capture trending behaviour across assets on a medium-term basis).

"The fund's investment objective is to provide attractive risk adjusted returns on the capital invested over an investment period of about five years with a target annual volatility of 10-12 per cent. The returns are expected to have low long term correlation to traditional asset classes such as equities and bonds," GAM says in the fund's product disclosure statement.

The fund has a minimum investment of $500,000, a management fee of 1.4 per cent of net asset value and a performance fee of 10 per cent of the amount by which the fund's performance exceeds the high watermark.