Inversiones Alternativas

Inversiones
Alternativas
Acerca de GAM


Establecido en 1983 con el objetivo de generar
rendimientos atractivos a largo plazo a través de
estrategias de inversión activas
Distintiva cultura de inversión basada en la
independencia en la toma de decisiones de
inversión y un manejo del riesgo disciplinado

USD 60.2 billones en activos bajo manejo

Mas de 750 empleados en ocho oficinas alrededor
del mundo

Foco en clientes institucionales y de banca
privada
GAM AuM by Strategy
11%
14%
29%
Equity
Fixed income
Abs. return single manager
Multi-manager
Managed portfolios
& composites
23%
23%
Dublin
New York
Los Angeles
Bermuda
London
Zurich
Tokyo
Hong
Kong
Source: GAM. Assets under management breakdowns are as at 30 Jun 2011.
GAM reports its assets under management breakdowns on a half yearly basis in line with Swiss accounting rules which apply to our parent company, GAM Holding AG. Holdings and allocations are subject to
change. The reported total AuM of GAM of USD 60.2bn include cross-holding assets of approximately USD6.6bn in accordance with Group accounting policy, which follows the principles of the Swiss Financial
Market Supervisory Authority (FINMA). GAM’s assets under management without cross-holdings as at 30 Jun 2011 are approximately USD 53.6bn.
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GAM Multi-Manager
La solidez de la experiencia
 Uno de los inversores en Hedge Funds mas experimentado y conocedor del mundo
— Administrador de fondos de Hedge Funds desde 1989
— 87 empleados dedicados a GAM Multi-Manager alrededor del mundo
 USD 8.2bn† en activos bajo manejo incluyendo:
Equity Hedge
16.5%
Trading
65.0%
Event Driven
10.5%
Relative Value
7.8%
 Extensivo conocimiento en Hedge Funds
— Análisis cualitativo sobre el 95% del universo disponible basado en cantidad de
fondos
 Procesos disciplinados y estructurados en el manejo de las inversiones y riesgo
— Objetivos claros de riesgo y rendimiento monitoreados en casa paso
Source: GAM
* Data as at 31 Jan 2012 (the staff number includes IT, quantitative analytics and dealing support) † Source GAM as at 30 Jun 2011. GAM now discloses its assets under
management on a half-yearly basis. Holdings and allocations are subject to change. Percentages may not sum to 100 due to the impact of cash held within the MM portfolios.
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Estrategias de
Trading
Estabilidad en mercados
volatiles
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GAM Trading II – USD Open
Performance from 29 Apr 1997 (inception) to 31 Jan 2012
Past performance is not indicative of future performance. Performance is provided net of fees.
Funds do not have the security of capital which is characteristic of a bank deposit.
Source: GAM, MSCI, Financial Times, Thomson Reuters
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GAM Trading II – USD Open
Risk characteristics from 29 Apr 1997 (inception) to 31 Jan 2012
Past performance is not indicative of future performance. Performance is provided net of fees.
Source: GAM, MSCI, Thomson Reuters
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GAM Trading USD
Performance from 27 Apr 1990 (inception) to 31 Jan 2012
Past performance is not indicative of future performance. Performance is provided net of fees.
Funds do not have the security of capital which is characteristic of a bank deposit.
Source: GAM, MSCI, Financial Times, Thomson Reuters
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Crisis de deuda rusa
GAM Trading USD – Performance from 29 Jun 1998 to 31 Aug 1998
Past performance is not indicative of future performance. Performance is provided net of fees.
Source: GAM, MSCI, Thomson Reuters
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Burbuja tecnológica
GAM Trading USD – Performance from 27 Mar 2000 to 30 Sep 2002
Past performance is not indicative of future performance. Performance is provided net of fees.
Source: GAM, MSCI, Thomson Reuters
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Crisis de Crédito
GAM Trading – Performance from 27 Aug 2007 to 9 Mar 2009
Past performance is not indicative of future performance. Performance is provided net of fees.
Source: GAM, MSCI, Thomson Reuters
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Agregando Estrategias de Trading a un portfolio
Performance from 31 Dec 1998 to 31 Dec 2011
Source: GAM
Equities = MSCI World Index, Bonds = FTSE Gilts Total Return Index, Trading strategies = HFRI Macro Index. Returns in USD. Rebalanced quarterly.
We have made simplifying assumptions about currency hedging.
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GAM Trading II Investments
Investment strategy as at 31 Jan 2012
Other* 0.7%
Macro - Systematic 4.0%
Managed Futures - Short-Term 14.2%
Tactical Allocation
guidelines (%)
GAM Trading II
-
Macro-Discretionary
40 – 80
Macro-Systematic
20 – 40
Managed Futures-Trend
5 – 20
Managed FuturesShort-Term
15 - 35
Managed Futures - Trend 14.4%
Macro - Discretionary 66.8%
Source: GAM
Allocations and holdings are subject to change. Other includes liquidity, fees and currency effect/currency hedging (where applicable).
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GAM Trading II
Breakdown of risk as at 31 Jan 2012
Percentage Risk by Geography1
MEA and Developing
Asia 10%
Emerging Europe
4%
Emerging
Americas 4%
Developed
Americas 26%
Developed
Asia 21%
Developed Europe
35%
Source: GAM
Allocations and holdings are subject to change. 1 Data has been normalized and does not include allocation to liquidity, fees and currency effect / currency hedging.
Totals may not sum due to rounding of data at source.
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Distribution of risk exposure* within GAM Trading II
Fund VaR at underlying (look-through) level is well diversified by both country and asset class
Credit 5.1%
Emerging Markets, 1.6%
Asia Pacific, 0.41%
Western Europe, 2.4%
North America, 0.8%
Emerging Markets, 0.4%
Asia Pacific, 4.2%
Western Europe, 2.0%
Equities 16.0%
North America, 7.4%
Fixed Income 27.6
Western Europe, 7.8%
North America, 9.5%
Asia Pacific, 6.4%
Emerging Markets, 5.9%
Metals, 7.5%
Commodities 24.0%
North America, 3.5%
Softs, 5.6%
Grains, 3.3%
Energy, 7.7%
Source: GAM as at 31 Dec 2011
Allocations and holdings are subject to change. * Based on gross figures.
Western Europe,
10.8%
Asia Pacific, 6.9%
Emerging Markets, 6.1%
Currency 27.3%
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GAM Fund of Funds Awards 2005 – 2011
2011
2010
2009
2008
2007
2006
2005
PIPA Awards
Best Hedge Fund of Fund: GAM Trading II
Hedge Funds Review Awards
Fund of Hedge Fund of the Decade: GAM Trading II
InvestHedge Awards
10 year Performance Award for funds with more than $1bn in assets: GAM Trading II
Hedgeweek Awards
Best Diversified Fund of Hedge Funds: GAM Diversity
Hedge Funds Review Awards
Best Performing Diversified FoHF over 1 year: GAM Multi-Diversified LV
Global Pensions Awards
Hedge Fund of Funds Provider of the Year
Financial News Awards for Excellence in Hedge Fund Operations
Best Client Reporting
Best Manager Selection Process
Best Due Diligence Process
Hedge Funds Review Awards
Best Performing Specialist Fund over 10 years: GAM Trading Strategy
Financial News Awards for Excellence in Institutional Asset Management
Fund of Hedge Funds Group of the Year
Financial News Awards for Excellence in Hedge Fund Operations
Best Client Reporting
Best Due Diligence Process
Best Product Development
Best Manager Selection Process
InvestHedge Awards
Best Fund of Year Award: GAM Multi-Europe II
Hedge Funds Review Awards
European ‘Best Group’ Award: Funds of Hedge Funds
Hedge Funds Review Awards
Most Innovative Fund of Hedge Fund Product: GAM Portable Diversity / S&P 500
Hedge Funds Review Awards
European ‘Best Group’ Award: Funds of Hedge Funds
Standard & Poor’s – Europe Equity Sector Awards
Best over five years: GAM Strategic Multi-Europe A
Source: GAM as 31 Jan 2012
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