Investment group GAM has announced plans to launch a Ucits version of QFS Asset Management’s flagship currency fund after agreeing a deal to take a minority stake in the US firm.
The deal is set to see Zurich-based GAM acquire a 30% stake in the Connecticut-based hedge fund company, which specialises in currency, global macro and fixed income strategies.
Once the agreement is completed GAM intends to launch a Ucits-compliant version of the QFS Currency Fund. This strategy has existed in the United States since March 1993.
GAM said it hopes to launch this fund in the coming months and it will also be involved in the distribution and marketing of existing and new strategies managed by QFS.
Commenting on the arrangement GAM CEO David Solo said: ‘We are delighted to work with such a high-calibre investment manager with demonstrated investment capabilities over such a long period of time, delivering exceptional returns through differing market cycles.’
‘We are convinced that its experience in managing liquid, non-correlated and high-performing strategies will prove highly appealing to our sophisticated investor base.’