Swiss independent global asset manager GAM has announced that two of its flagship fixed income funds, GAM Star Credit Opportunities EUR and USD, will be the first foreign funds registered for sale to Israeli retail investors under new regulations introduced in 2016 by the Israel Securities Authority.
The funds seek to deliver consistent returns for investors, including a regular income, by investing predominantly in investment grade or high quality bond issuers, and have a proven track record of over 30 years. The funds will be available primarily through financial advisors at retail bank branches.
Headquartered in Zurich, GAM is the first international investment house to embrace Amendment 23, which allows Israeli retail investors access to international mutual funds. Previously GAM’s investment strategies have been available to Israeli institutional investors only. GAM has had a dedicated presence in Israel since 2010.
GAM head of Israel distribution Philip Rosenberg said, “This is a momentous milestone for both GAM and the Israeli market. During my more than 25 years serving the Israeli investment community, retail client demand for access to well-known international investment talent and products has been growing consistently. Thanks to new regulations, Israeli investors will have more choice for their investment needs in the future.
He added, “GAM is committed to serving its clients through the Israel office with fund materials available in Hebrew and local language speaking staff. It is GAM’s promise to help investors fulfil their investment aspirations.”
GAM was advised on the registration of its funds by Israeli law firm Herzog, Fox and Neeman.
Published by Globes [online], Israel business news - www.globes-online.com - on December 26, 2017
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