GAM, Switzerland’s largest listed fund manager by assets, today unveiled a new UK Equity Income fund, which is being managed by Adrian Gosden.
As reported, Gosden joined GAM in September 2017 as investment director, after leaving Artemis – where he ran the fund house’s income fund, among other income mandates – in June. At the time, GAM said he would manage a new UK equity income fund it was planning to launch.
Altogether, Gosden has had some 20 years’ of experience managing money, 18 of which were spent running equity income funds, according to GAM.
Gosden will be based in London and will work closely with GAM’s existing UK and pan-European equity teams, the Zurich-based asset manager said in a statement.
He will manage the fund with Chris Morrison, who joined GAM in 2011 and has 12 years’ investment experience.
Gosden’s new, UK-domiciled, long-only fund is being structured as a UK open-ended investment company, and will employ investment strategy based on the use of “fundamental analysis to identify robust UK companies with sustainable dividends,” GAM said.
This strategy, it added, will look to provide both income and capital appreciation by investing in UK companies of all sizes, with a “liquid and diversified portfolio” that will aim to maintain a low level of constituent turnover. It will have an annual maintenance fee of 0.75% and an estimated on-going charge figure of 0.88%.
‘Core fund with flexibility’
Gosden said his new fund will be “a core fund with the flexibility to invest across the UK equity universe”.
It will make use, he added, of “tried and tested techniques to invest in around 50 companies of varied sizes, creating diversity of sector and market cap”.
The new fund is the fourth UK OEIC that GAM has launched since May, according to GAM head of UK distribution Douglas Branson.
The fund is domiciled in the UK and at launch it will have an annual management fee of 0.75% with an estimated on-going charge figure of 0.88%.
Headquartered in Zurich, GAM is listed on the SIX Swiss Exchange, and had assets under management of CHF148.4bn (US$148.6bn, £112.5bn) at the end of September.