GAM's Global Rates strategy has navigated some of the toughest periods in the market
Why Global Rates?
Adrian Owens gives a video update on his latest thoughts, reflecting on the banking issues of the first quarter, the importance of the ability to short some markets, the fact stubbornly high inflation could create opportunities and why he is keeping a close eye on Fed fund futures.
Where liquidity continues to be withdrawn and the lags from previous tightening continue to come through there could be more shocks. Risk management is going to be key over the course of the next 12 to 18 months.
Key Capabilities
Compelling track record
Since the strategy's launch in 2004, and across market cycles, the strategy has historically delivered on its targeted higher single-digit, equity-like returns but with fixed income-like levels of risk.1
True diversification
Non-directional approach centred on relative value as well as outright long and short positions have consistently delivered return and risk parameters uncorrelated to traditional fixed income investments.
Liquid and scalable
High conviction, tactically agile macro-driven approach focused on the most liquid global developed rates and currency markets (G10+), with only opportunistic and very limited exposure towards emerging markets.
Focused and transparent
Active positioning is exclusively run via liquid interest rate and currency instruments. No exposure towards credit markets or indeed any other asset classes.
Disciplined and rigorous
Concentrated portfolio built around 8-12 top-down investment themes with only modest net interest rate duration, net portfolio leverage or value-at-risk parameters, underpinned by rigorous risk management processes.
Proven and stable
Led since launch by Adrian Owens, the multi-award winning team has operated in its current composition for many years, and has employed its distinct investment approach consistently over time.Risk Management Process is Key
Why does our approach to risk management work? In short, we have the tools (including the ability to go short) and we do as much ex-ante risk management as possible to limit the amount of ex post risk management required.
Investment Team
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Disclosure: Past performance is not an indicator of future performance and current or future trends. The indications could be based on figures denominated in a currency that may be different from the currency of your residence country and therefore the return may increase or decrease as a result of currency fluctuations. Capital at risk: all financial investments involve an element of risk. Therefore, the value of an investment and the income from it will vary and the initial investment amount cannot be guaranteed. Any reference to a security is not a recommendation to buy or sell that security. There is no guarantee that the investment objectives of the referenced strategy will be achieved. In addition, there is no guarantee that risk management techniques utilized by GAM will eliminate or mitigate risk in any market environment. GAM products are not available for sale or investment in any state or jurisdiction in which such sale or investment would be prohibited and are not aimed at persons in those jurisdictions or where otherwise prohibited by the law.