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Former EM Alt Ucits star exits GAM

Former EM Alt Ucits star exits GAM

Alternative Ucits specialist Enrico Camera has left GAM with the Swiss group promoting a team member to take over his portfolio management responsibilities, Citywire Selector has learned.

Camera had been with GAM in Lugano since 2012 after boutique group Arkos Investments was purchased as part of plans to extend absolute return fund coverage.

This had included the GAM Star (Lux) Emerging Alpha fund, which Camera had managed with Iain Cartmill at the time of the takeover.

Cartmill subsequently left to join Zurich-based GL Financial Group, with William Mejia stepping in as co-manager on the Luxembourg-domiciled Alternative Ucits fund, which focuses on emerging markets.

However, Camera has now left the firm as at the end of June. GAM confirmed the departure and said Camera, who was previously Citywire AA-rated, intends to take a break from fund management.

Replacing Camera on the fund and serving as Mejia’s co-manager is Aldo Meroni, who is a junior member of the non-directional equity team. He was formally assigned to the fund at the start of July but has been working on the strategies for a number of years.

The GAM Star (Lux) – Emerging Alpha fund lost 2.1% in US dollar terms over the 12 months to the end of June 2016. This compares with a loss of 5.9% by the average manager in the Emerging Markets Inc Asia section of the Alt Ucits database over the same period.

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