Speculate to accumulate

The GAM Long Short European fund was launched in June 1998 and does what its name suggests, aiming to make money both on the long and short side every year, despite market conditions, by investing mainly in Europe.

The underlying strategy of the fund was developed from GAM's long money-management style, says manager John Bennett.

One of the main factors Bennett considers when picking a stock is the return on invested capital. If he believes he has identified catalysts to increase return on investe