GAM expands its portfolio

Global Asset Management (GAM) has launched the GAM American Focus Hedge Fund. The new hedge fund is managed by James Abate who joined GAM in January this year and is based in GAM's New York office.

Abate and his team will employ an opportunistic long/short strategy. The fund is expected to consist of a concentrated, risk-controlled portfolio normally comprising 35-50 long positions and 25-50 short positions, with an emphasis on large and mid- capitalisation stocks primarily selected from the S&P