The $55m GAM GAMCO US Equity fund is managed by chairman Mario Gabelli as a Ucits version of the firm’s existing fund, which has been running for 25 years.
GAM said the fund aims for capital growth from long-only positions in predominantly US-listed companies.
It invests primarily in equities and securities convertible into equities, with emphasis on value and risk aversion. The portfolio is focused on companies identified as trading below underlying value with a catalyst for performance.
The retail share class was launched earlier this month, listed on the Irish stock exchange and requires a minimum investment of $10,000.
GAM already has two US equity strategies which are available to UK investors – the GAM North American growth fund and the GAM star US all cap equity fund – and the firm said this new fund will complement those offerings.
“The highly experienced value investor Mario Gabelli and his team at GAMCO Asset Management have been managing this strategy for our clients since 1987, delivering consistent long-term outperformance of both the market and its peer group,” said GAM’s global head of institutional and fund distribution Craig Wallis. “Its Ucits version, created in response to client demand, gives investors access to his unique proprietary investment approach to identifying undervalued US equities through a regulated and highly liquid onshore fund.”
