06 May 2025
Joint Statement from GAM Investments and Fermat Capital Management regarding GAM FCM Cat Bond Fund (BVI)
GAM Investments (GAM) and Fermat Capital Management (Fermat) have reached a mutual agreement that Fermat will become the sole investment manager for the USD 200 million offshore GAM FCM Cat Bond Fund domiciled in the British Virgin Islands (the “BVI Fund”).
Following discussions with Fermat and given the broader characteristics of the BVI Fund, including its investment profile, the parties have agreed that Fermat will become its sole investment manager.
The BVI Fund will undergo an orderly and managed transition to Fermat. Following completion, GAM will have no ongoing involvement with the BVI Fund and Fermat will communicate with investors.
GAM would like to thank the BVI Fund board and our clients for all their support.
The GAM Star Cat Bond UCITS fund will transition to Swiss Re Insurance-Linked Investment Advisors Corporation as co-investment manager along with GAM, effective 7 May 2025, as previously announced.
For further information please contact:
| Colin Bennett | GAM Media Relations T +44 (0) 20 73 938 544 colin.bennett@gam.com |
Visit us: www.gam.com
Follow us: X and LinkedIn
| Tom Sundberg | Fermat Investor Relations T +1 (203) 451 8727 tom@fcm.com |
Visit us: www.fcm.com
About GAM
GAM Investments is a highly scalable global investment platform with strong global distribution capabilities focusing on three core areas, Specialist Active Investing, Alternative Investing and Wealth Management, that is listed in Switzerland. It delivers distinctive and differentiated investment solutions across its Investment and Wealth Management businesses. Its purpose is to protect and enhance clients’ financial future. It attracts and empowers brightest minds to provide investment leadership, innovation and a positive impact on society and the environment. Total assets under management were CHF 16.3 billion as of 31 December 2024. GAM Investments has global distribution with offices in 14 countries and is geographically diverse with clients in almost every continent. Headquartered in Zurich, GAM Investments was founded in 1983, and its registered office is at Hardstrasse 201 Zurich, 8037 Switzerland. For more information about GAM Investments, please visit www.gam.com.
About Fermat Capital Management
Founded in 2001, Fermat Capital Management, LLC seeks alternative fixed-income returns by focusing on new asset classes that offer potentially attractive risk premiums. Fermat provides investment management services for clients – including pension funds, sovereign wealth funds, endowments, charitable and philanthropic foundations, insurers, family offices, and private investors – from around the world. The Fermat team has deep expertise in insurance, banking, and capital markets and Fermat has served as an advisor to government bodies and national regulators. Fermat currently manages portfolios in two strategies: insurance-linked securities and trade finance. Please visit the following website for more information on Fermat: www.fcm.com.
Other Important Information
This release contains or may contain statements that constitute forward-looking statements. Words such as “anticipate”, “believe”, “expect”, "estimate", "aim", “project”, “forecast”, "risk", “likely”, “intend”, “outlook”, “should”, “could”, "would", “may”, “might”, "will", "continue", "plan", "probability", "indicative", "seek", “target”, “plan” and other similar expressions are intended to or may identify forward-looking statements.
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