High demand for third GAM Diversity fund

GAM is to launch a third in its range of Diversity fund of hedge funds this autumn, managed by David Smith, chief investment director of the firm's multi-manager team.

GAM's decision stems from high investor demand and a desire not to run too much money in its first two Diversity products leading to over-diversification, according to Smith.

'To support the delivery of superior performance it is crucial to achieve the optimal combination and number of managers in any one portfolio,' Smith said. 'We