The GAM Diversity II fund is run by David Smith, chief investment officer at GAM. It is a global multi-strategy fund of hedge funds aiming for capital appreciation and diversification of risk. It typically holds between 40 and 70 underlying funds.
The offshore fund of hedge funds seeks to achieve absolute returns, delivering net returns of 8% to 12% per annum with volatility ranging from 5% to 7%.
Compound growth rates since 1998 have been 6.7% per annum, compared to just 0.9% for the MSCI world