GAM’s Frontier Opportunities fund, managed by Sean Taylor, has closed with investor capital transferred to a new UCITS fund that can use both long and short po
GAM’s Frontier Opportunities fund, managed by Sean Taylor, has closed with investor capital transferred to a new UCITS fund that can use both long and short positions reported Investment Week this week. The new fund – GAM Star Frontier Equity – is a Dublin-domiciled version of the firm’s BVI Frontier Opportunities Equity hedge fund and will, like the previous fund, be managed by Taylor. It will seek to replicate the offshore strategy. Money was redeemed to investors in the Frontier Opportunities fund at the start of May who were given the choice of re-investing in the new fund. It is believed Taylor will develop a portfolio of 30 to 50 long positions and up to 10 short positions. Since its launch the new UCITS fund has allocated 16 per cent to Qatar, 11 per cent to Kuwait and 9 per cent to Dubai and Abu Dhabi, mirroring the offshore vehicle. In a statement GAM said that given the new fund had the same geographical focus as the Frontier Opportunities fund it took the decision to focus its offering in this area only on the new product. “This was because, from launch, GAM Star Frontier Equity has had a significantly larger asset base than the ‘old’ fund, having been managed in an offshore vehicle of some size since 2007.” The offshore fund has an AUM of around GBP36million compared to GBP11million in the Frontier Opportunities fund.
