London-based multi-manager specialist GAM has announced that GAM Multi-Environmental, which invests in the growing sector of funds focusing on alpha generation from environmental themes, is now available for public investment. The fund requires a minimum initial subscription of GBP15,000 and offers quarterly redemptions.
GAM Multi-Environmental invests in a concentrated portfolio of between eight and 12 underlying managers diversified across the five categories of clean technologies, water, commodities, alternative energy and natural resources. Globally diversified across regions and investment strategies, the fund invests primarily in long/short equity funds with additional allocations to macro and arbitrage strategies.
The fund is run by Catherine Cripps, the GAM investment manager responsible for funds of hedge funds investing in market neutral and long/short equity strategies and head of research for the firm's multi-manager team.
She joined GAM in 2006 from a multistrategy fund of hedge funds manager, Aida Capital, where she was chief executive, having previously held various positions over 20 years with Credit Suisse, Chase Manhattan, ING Barings and Bankers Trust. Her focus has been largely on equity derivatives in trading and product control, valuations and investment and operational risk control reporting.
'As conventional sources of energy become more expensive and less reliable, corporations and governments are turning increasingly towards clean technology,' says David Smith, GAM's chief investment director for multi-manager business. 'This in turn has led to a dramatic boom in the green economy, creating many new investment opportunities.
'Underlying hedge fund managers have a growing choice of opportunity across the breadth of the supply chain. GAM, with its unrivalled track record in multi-manager investment, seeks to identify and capture the best of these opportunities in GAM Multi-Environmental.'