Specialist European hedge fund from GAM

GAM has launched a specialist European hedge fund. It will be managed by John Bennett and specialise in small- and mid-cap European shares.

Bennett, head of GAM's European team and now the firm's Euroselect Hedge fund, said both long and short opportunities in Europe had arisen recently due to the 'enormous increase in near passive investing.'

Tracker funds buying into firms according to index weightings ' and regardless of those firms' future prospects ' produced undervalued and under-appreciated