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GAM to close European Systematic Value & Income Fund

By Stuart Goodwin | Thu 24 September 2009

GAM has announced it will be closing its European Systematic Value & Income Fund. This is due to the fund’s small size and the departure of the fund manager.

The fund had been managed since launch by Ross Hollyman, who joined GAM from JPMorgan in 2003. It was recently announced that he would leave to run a new fund for Liontrust. The European Systematic Value & Income Fund is also a small fund and GAM believe it is uneconomical for them to run the fund in future. The combination of these factors has resulted in GAM deciding to close the fund.

All dealing in the fund ceased on 14th September and the fund itself will close on 28th September, with cash being returned to investors. Investors who are seeking an alternative investment may wish to consult the Wealth 150, our list of favourite funds in each sector.

Stuart Goodwin, Analyst

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