GAM has added two American equity funds to its Star range, both of which are run by external American-based managers.
Manning & Nappier will run the GAM Star US All Cap fund and Advisory Research will manage the GAM Star US Small Cap Equity fund.
The GAM US All Cap fund follows a research-driven approach and focuses on stocks with a low-price-to-book value. “It has the flexibility to move away from sectors and firms that are not trading below their fair value,” says Jeff Coons, co-director of research at Manning & Napier.
The GAM Small & Mid Cap Equity fund targets value-orientated firms in the Russell 2500 Value index. Holdings will have market capitalisations of between $400m (£210m) and £9 billion.
The fund’s investment process emphasises downside protection before upside participation of companies.