GAM, the active asset manager owned by UBS, is to expand its alternative investment range later this year in response to continuing investor demand for multi-strategy funds of hedge funds.

The GAM Diversity III, due for launch in Autumn, will be managed by David Smith, chief investment director of the multi-manager team at the firm.

Anuj Gangahar

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The prospect of a radical escalation in the global trade war in the coming days has nearly doubled the probability of a recession in the U.S. economy in the next 12 months to around 35%, according to Goldman Sachs.

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GAM to expand alternative range

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