Woodard overhauls GAM Star US offering as AUM falls

The manager of the GAM Star US All Cap Equity fund has overhauled his portfolio in an attempt to boost returns following a period of lacklustre performance and outflows.

The former top-performing, portfolio has had a tough 18 months. Assets have dropped nearly two thirds since May 2011, from £1.4bn to £515m, while the fund has lagged the sector over one and three years. Performance over five years remains above average, however, at 22.5% compared to 21% from the sector, according to Morningstar data to 13 October. Manager Greg Woodard has ramped up exposure to ‘growth’ names to 70%, a position he has only held twice since the fund’s launch in July 2007. “There have only been two other times in history that we have been close to a 70% quality growth...