Morningstar Fund Report  | 17/04/2025Print

GAM Star Fund plc - GAM Star Credit Opportunities (EUR) Class Ordinary EUR Accumulation

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
GAM Star Fund plc - GAM Star Credit Opportunities (EUR) Class Ordinary EUR Accumulation
Fund-3.3-11.02.96.21.7
+/-Cat0.9-3.9-3.02.10.0
+/-B’mrk2.3--4.43.60.0
 
Category: EUR Subordinated Bond
Category Benchmark: Markit iBoxx EUR Corp Subor...
Key Stats
NAV
15/04/2025		 EUR 19.08
Day Change -0.55%
Morningstar Category™ EUR Subordinated Bond
ISIN IE00B567SW70
Fund Size (Mil)
15/04/2025		 EUR 458.44
Share Class Size (Mil)
15/04/2025		 EUR 98.58
Max Initial Charge -
Ongoing Charge
11/02/2025		  1.54%
Investment Objective: GAM Star Fund plc - GAM Star Credit Opportunities (EUR) Class Ordinary EUR Accumulation
The investment objective of the Fund is to achieve long‑term capital gain in Euro.
Returns
Trailing Returns (GBP)15/04/2025
YTD3.28
3 Years Annualised3.11
5 Years Annualised2.41
10 Years Annualised3.85
12 Month Yield 3.27
Management
Manager Name
Start Date
Anthony Smouha
05/07/2011
Gregoire Mivelaz
05/07/2011
Click here to see others
Inception Date
05/07/2011

Category Benchmark
Fund BenchmarkMorningstar Benchmark
Bloomberg Euro Agg Corps TR USDMarkit iBoxx EUR Corp Subordinated TR
Portfolio Profile for  GAM Star Fund plc - GAM Star Credit Opportunities (EUR) Class Ordinary EUR Accumulation31/12/2024
Fixed Income
Effective Maturity15.61
Effective Duration0.36
Morningstar Style Box®
Fixed Income Style
Asset Allocation
  % Long% Short% Net Assets
Stock0.000.000.00
Bond83.840.0083.84
Property0.000.000.00
Cash34.9926.318.68
Other7.470.007.47
Growth Of 1000 (GBP) 31/03/2025
Fund:  GAM Star Fund plc - GAM Star Credit Opportunities (EUR) Class Ordinary EUR Accumulation
Category:  EUR Subordinated Bond
Category Index:  Markit iBoxx EUR Corp Subordinated TR
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return-10.037.075.53-3.29-10.992.916.221.67
+/- Category-5.481.19-3.000.91-3.87-3.052.08-0.02
+/- Category Index-7.462.28-3.002.29--4.393.60-0.03
% Rank in Category10028933188942354
Trailing Returns (GBP)15/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-0.55   0.00-1.11
1 Week0.08   -0.23-0.05
1 Month1.19   0.40-0.85
3 Months1.81   0.08-0.58
6 Months3.60   -0.18-0.31
YTD3.28   0.27-0.73
1 Year6.38   -0.29-0.72
3 Years Annualised3.11   -1.24-1.42
5 Years Annualised2.41   -0.180.42
10 Years Annualised3.85   -0.57-0.35
 
Category: EUR Subordinated Bond
Category Index: Markit iBoxx EUR Corp Subordinated TR
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20251.67---
20243.70-0.061.940.55
2023-5.13-1.082.227.28
2022-5.08-10.16-2.056.56
2021-3.752.810.86-3.09
2020-13.5813.372.834.75
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearLowAbove Average1 star
5-YearAverageAbove Average3 star
10-YearBelow AverageAbove Average2 star
OverallBelow AverageAbove Average2 star
 
Category :  EUR Subordinated BondClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev8.44 %
3-Yr Mean Return1.74 %
 
3-Yr Sharpe Ratio-0.27
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Markit iBoxx EUR Corp Subordinated TR  Markit iBoxx EUR Corp Subordinated TR
3-Yr Beta1.211.21
3-Yr Alpha-0.89-0.89
 
Fixed Income Style31/12/2024
Morningstar Style Box®
Fixed Income Style
SizeRel to Cat
Total Market Value (Mil)EUR 492
Maturity Distribution %
1 to 35.15
3 to 515.82
5 to 725.77
7 to 1025.20
10 to 1517.20
15 to 201.22
20 to 301.74
Over 301.50
Effective Maturity15.61
Effective Duration0.36
Credit Quality Breakdown %     %
AAA11.74   BB0.66
AA12.15   B0.00
A69.59   Below B0.00
BBB3.88   Not Rated1.98
 
Category: EUR Subordinated Bond
Asset Allocation31/12/2024
Asset Allocation
 % Long% Short% Net Assets
Stock0.000.000.00
Bond83.840.0083.84
Property0.000.000.00
Cash34.9926.318.68
Other7.470.007.47
Top 10 Holdings31/12/2024
 Portfolio NEW
Total Number of Equity Holdings0
Total Number of Bond Holdings117
Assets in Top 10 Holdings19.65
NameSectorCountry% of Assets
HSBC Holdings PLC 6.364%United Kingdom2.21
Stt Strt EUR Lqudty LVNAV DstrbtrStblNAVIreland2.03
Germany (Federal Republic Of)Germany2.03
Germany (Federal Republic Of)Germany2.02
Germany (Federal Republic Of)Germany2.02
Germany (Federal Republic Of)Germany2.02
Phoenix Group Holdings PLC 5.75%United Kingdom1.95
Societe Generale S.A. 7.875%France1.93
HSBC Holdings PLC 4.599%United Kingdom1.74
UBS Group AG 0.25%Switzerland1.70
 
Increase Decrease New since last portfolio
Category: EUR Subordinated Bond
 
Management
Name of CompanyGAM Fund Management Limited
Phone+353 1 6093927
Websitewww.gam.com
AddressGeorges Court, 54-62 Townsend Street
 Dublin   -
 Ireland
DomicileIreland
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date05/07/2011
Fund Advisor(s)
Atlanticomnium SA
GAM International Management Limited
Fund ManagerAnthony Smouha
Manager Start Date05/07/2011
Education
University of Cambridge, M.A.
 
Biography
Started his career at Credit Suisse White Weld in 1977 in the Eurobond primary market and in Mergers and Acquisitions. From 1982 to 1992 he worked for SG Warburg Soditic, becoming a manager in the fixed income bond trading group, and from 1993, joined his father at Atlanticomnium S.A.
Fund ManagerGregoire Mivelaz
Manager Start Date05/07/2011
 
Biography
Gregoire Mivelaz is a Fund Manager at Atlanticomnium S.A. and a member of Atlanticomnium’s Management Committee. Atlanticomnium S.A. specialises in bond portfolio management. Prior to joining Atlanticomnium 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. He is based in Geneva.
Fund ManagerPatrick Smouha
Manager Start Date01/01/2019
Fund ManagerRomain Miginiac
Manager Start Date01/10/2023
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge1.35%
Ongoing Charge1.54%
Purchase Details
Minimum Investments
Initial6000  GBP
Additional3000  GBP
Savings-
Tax Free Savings Schemes
ISAsYes