GAM launches EM debt fund

GAM has launched a Ucits III emerging market debt and currency fund, managed by Pharo Global Advisors.

Opened on 17 November, the GAM Star Pharo Emerging Market Debt & FX fund will invest the majority of its assets in emerging market government and quasi-government cash bonds, as well as currency futures and forwards. It will aim to generate returns of between 5% and 10% per annum above the JP Morgan EMBI Global Diversified Composite index. Founded and led by Guillaume Fonkenell, Pharo specialises in trading the liquid spectrum of foreign exchange, interest rate, credit and equity indices within emerging markets. "Emerging countries are coming out of the crisis in much better shape ...