Morningstar Fund Report  | 24/01/2025Print

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

Performance History31/12/2024
Growth of 1,000 (GBP) Advanced Graph
GAM Star Fund plc - GAM Star Credit Opportunities (USD) Class Ordinary USD Accumulation
Fund0.34.11.70.411.4
+/-Cat-----
+/-B’mrk-----
 
Key Stats
NAV
22/01/2025
 USD 20.31
Day Change -0.12%
Morningstar Category™ Other Bond
ISIN IE00B560QG61
Fund Size (Mil)
22/01/2025
 USD 773.52
Share Class Size (Mil)
22/01/2025
 USD 153.97
Max Initial Charge -
Ongoing Charge
02/05/2024
  1.53%
Morningstar Research
Analyst Report14/11/2024
Mara Dobrescu, Director
Morningstar, Inc

GAM Star Credit Opportunities has appealing features through the experience of its manager duo and its patient, fundamentals-driven process, though the approach entails sharp drawdowns that can be difficult for some investors to stomach. Still,...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People24
Parent22
Process24
Performance
Price
Investment Objective: GAM Star Fund plc - GAM Star Credit Opportunities (USD) Class Ordinary USD Accumulation
The investment objective of the Fund is to achieve long‑term capital gain in US dollars.
Returns
Trailing Returns (GBP)22/01/2025
YTD2.10
3 Years Annualised5.44
5 Years Annualised3.36
10 Years Annualised6.23
12 Month Yield 3.89
Management
Manager Name
Start Date
Anthony Smouha
19/07/2011
Gregoire Mivelaz
19/07/2011
Click here to see others
Inception Date
19/07/2011

Category Benchmark
Fund BenchmarkMorningstar Benchmark
Bloomberg US Aggregate Corporate TR USD-
Portfolio Profile for  GAM Star Fund plc - GAM Star Credit Opportunities (USD) Class Ordinary USD Accumulation30/09/2024
Fixed Income
Effective Maturity-
Effective Duration-
Morningstar Style Box®
Fixed Income Style
Asset Allocation
  % Long% Short% Net Assets
Stock0.000.000.00
Bond80.770.0080.77
Property0.000.000.00
Cash31.1314.5116.62
Other2.610.002.61
Growth Of 1000 (GBP) 31/12/2024
Fund:  GAM Star Fund plc - GAM Star Credit Opportunities (USD) Class Ordinary USD Accumulation
Category:  Other Bond
Category Index: 
Growth of 1,000 GBP
Annual Returns (GBP)31/12/2024
 201720182019202020212022202331/12
Price Return2.88-2.4911.730.264.101.710.4311.35
+/- Category--------
+/- Category Index--------
% Rank in Category-
Trailing Returns (GBP)22/01/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-0.12   --
1 Week-0.07   --
1 Month2.32   --
3 Months6.10   --
6 Months8.46   --
YTD2.10   --
1 Year12.79   --
3 Years Annualised5.44   --
5 Years Annualised3.36   --
10 Years Annualised6.23   --
 
Quarterly Returns (GBP)31/12/2024
 Quarter 1Quarter 2Quarter 3Quarter 4
20244.381.43-1.777.06
2023-6.91-0.645.582.83
2022-1.500.894.96-2.49
2021-0.232.093.32-1.08
2020-8.5411.38-1.07-0.51
20193.365.664.88-2.45
 
 
 
Morningstar Rating™(Relative to Category)-
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-Year--Not Rated
5-Year--Not Rated
10-Year--Not Rated
Overall--Not Rated
 
Click here to see our Methodology
Volatility Measurements31/12/2024
 
3-Yr Std Dev7.74 %
3-Yr Mean Return4.69 %
 
3-Yr Sharpe Ratio0.12
 
Modern Portfolio Statistics-31/12/2024
 Standard IndexBest Fit Index
   FTSE EPRA Nareit Eurozone TR EUR
3-Yr Beta-0.22
3-Yr Alpha-0.49
 
Fixed Income Style-
Morningstar Style Box®
Fixed Income Style
SizeRel to Cat
Total Market Value (Mil)USD 787
Maturity Distribution %
1 to 317.75
3 to 513.21
5 to 721.31
7 to 1019.24
10 to 159.02
15 to 201.84
20 to 3011.08
Over 301.22
Effective Maturity-
Effective Duration-
Credit Quality Breakdown %     %
AAA -   BB-
AA-   B-
A-   Below B-
BBB-   Not Rated-
 
Asset Allocation30/09/2024
Asset Allocation
 % Long% Short% Net Assets
Stock0.000.000.00
Bond80.770.0080.77
Property0.000.000.00
Cash31.1314.5116.62
Other2.610.002.61
Top 10 Holdings30/09/2024
 Portfolio NEW
Total Number of Equity Holdings0
Total Number of Bond Holdings125
Assets in Top 10 Holdings18.01
NameSectorCountry% of Assets
Standard Chartered PLC 3.516%United Kingdom2.55
NatWest Group PLC 3.754%United Kingdom2.30
UBS Group AG 9.016%Switzerland1.98
NatWest Group PLC 6.475%United Kingdom1.80
Stichting AK Rabobank Certificaten 6.5%Netherlands1.68
Banco Bilbao Vizcaya Argentaria, S.A.... Spain1.57
Deutsche Bank AG New York Branch 4.875%Germany1.57
Banco Santander, S.A. 3.625%Spain1.55
HSBC Holdings PLC 7.39%United Kingdom1.54
Societe Generale S.A. 4.75%France1.48
 
 
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 Date19/07/2011
Fund Advisor(s)
Atlanticomnium SA
GAM International Management Limited
Fund ManagerAnthony Smouha
Manager Start Date19/07/2011
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 Date19/07/2011
 
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 Charge1.53%
Purchase Details
Minimum Investments
Initial6000  GBP
Additional3000  GBP
Savings-
Tax Free Savings Schemes
ISAsYes