Price and Performance (End of Month)

For accredited, professional, institutional and/or qualified persons only.

Past performance is not indicative of future performance. Performance is provided net of fees.

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Valuation date: 31 May 2021

SHARE CLASSPRICEMTD%
GAM Star Credit Opportunities (USD)
Accumulation USD19.0670↑0.28
Income USD12.8038↑0.28
Institutional (Acc) USD17.2300↑0.32
GAM Star Credit Opportunities USD Inst Inc10.2423↑0.32
GAM Star Credit Opportunities (EUR)
Accumulation EUR19.1944↑0.03
Income EUR16.2140↑0.03
Institutional (Acc) EUR16.5183↑0.06
Institutional (Inc) EUR13.9670↑0.06
GAM Star Credit Opportunities (GBP)
Accumulation GBP21.7430↑0.22
Income GBP14.1489↑0.22
Institutional (Acc) GBP18.7793↑0.26
Institutional (Inc) GBP13.6445↑0.26
GAM Star Credit Opportunities (CHF)
Accumulation CHF17.89530.01
Income CHF12.78130.01
Institutional (Acc) CHF14.5648↑0.04
GAM Star Credit Opportunities (EUR) CHF Inst Inc10.3704↑0.04

Key characteristics

ASSET CLASS

Fixed Income – Specialist.

INSTRUMENT TYPES USED

Mainly corporate bonds, with limited exposure to convertibles, derivatives (mainly currency forwards) and cash.

INVESTMENT OBJECTIVE

The fund seeks to achieve high income generation with capital appreciation from investing in bonds of high quality companies.

HEDGING

Able to use currency forward contracts to hedge the currency risk of non-base currency assets. Derivatives have not been used to hedge interest rate risk as inclusion of fixed rate and floating rate bonds provides natural hedge.

INVESTMENT UNIVERSE

Publicly quoted corporate bonds of any credit quality issued predominantly by investment grade companies, with a particular focus on the financial sector and niche areas such as undated, floating rate and fixed-to-floater debt instruments

LEVERAGE

The fund does not borrow to invest and does not leverage its positions to generate a notional exposure in excess of its NAV.

Meet our award winning credit investment specialists

Anthony Smouha

CEO, Fund Manager

Anthony Smouha is Chief Executive Officer, a member of Management Committee and Fund Manager managing GAM funds since joining in 1992.

Prior to joining Atlanti S.A., Mr Smouha was senior vice president, head of bond trading and sales at Soditic SA/SG Warburg Soditic SA, Geneva. Prior to this, he was at Credit Suisse First Boston in London.

Mr Smouha was educated at Harrow School and holds an MA Cantab Hons in Economics from the University of Cambridge. He is based in Geneva.

Grégoire Mivelaz

Fund Manager

Gregoire Mivelaz is a Fund Manager and a member of Management Committee.

Prior to joining Atlanti S.A. in 2009, Mr Mivelaz held positions both as a buy-side and as a sell-side credit analyst.

Mr Mivelaz graduated from the University of St Gallen and holds a BA in Finance and Capital Markets, an MA in Economics and is a CAIA charterholder.

Patrick Smouha

Fund Manager

Patrick Smouha, who joined Atlanti in 2012, is co-managing the GAM’s credit opportunities strategies alongside Anthony Smouha and Gregoire Mivelaz

Prior to this Patrick was assistant fund manager, responsible for dealing and execution. He has been a member of Atlanti’s Investment Committee since 2016. From 2012 to 2016, he performed a wide variety of tasks including bond research and assisting with the management and administration of the funds.

Patrick holds a BSc in management from the University of Lausanne (HEC) and an MSc in finance from the University of Geneva (HEC).

Romain Miginiac

HEAD OF RESEARCH

Prior to joining Atlanti in September 2018, Romain Miginiac was a Credit Analyst at Aberdeen Standard Investments in Edinburgh from 2016.

He was a lead analyst covering a wide range of banks and insurers. He also worked at KPMG and UBS in Geneva. Romain is a CFA® charterholder.

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