GAM Talentum Europe

Long/Short Fund EUR

Fund Investment Objectives

GAM Talentum Europe Long/Short Fund is a European equity long/ short, market neutral (beta neutral) fund. The investment strategy combines quantitative screening through a proprietary model with fundamental analysis to identify long and short investment opportunities. Positions are taken only if they satisfy both quantitative and fundamental criteria. The managers are targeting a cash +7% annual return with a max volatility of 6% and no correlation to markets. The portfolio comprises some 130/150 stocks and it is built-up completely on a bottom-up approach, with no specific limits in terms of sector, geography, etc..Manager portfolio theme is investment in stocks that can produce earnings above expectations and shorting of stocks that can produce disappointments. Maximum individual stock position: 5% for a long, 3% for a short, but average position typically in 1 - 2% range. Typically no position larger than 2 days' traded volume, maximum 5 days. Maximum gross exposure 200% (100% long and 100% short). Utilisation of factor analysis and close monitoring of beta to ensure market neutrality and neutrality to factors/ macro-variables the fund managers do not intend to take a view on. AUM combines both currency classes. The Fund's inception date is July 23, 2002.