US fund manager GAM has liquidated its underperforming GAM Star GEO fund run by Paul Udall after assets dwindled to under £10m.
The fund - an environmental fund which invested in areas such as water and renewable energy - was liquidated on 1 November, having become uneconomical to run after assets shrunk to just £5.7m. Udall had been running the fund since April 2011, having been hired in May 2010 from Climate Change Capital, where he was co-manager of the group's Global Environmental Opportunities long/short fund. The fund has underperformed this year to 31 October, returning 15.5% year over the period, versus the FTSE World index return of 22%.
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