GAM North American Growth

A concentrated stock picking fund of c30 stocks

  • 4065.15p Price (Inc)
  • 5069.22p Price (Acc)
  • 5.00% 0.00% Initial charge
  • 1.50% Annual management charge
  • 1.53% Ongoing charges
  • 0.00% Yield

Prices as at 09 December 2019

This is a pure stockpicking fund, with underlying stocks selected on the basis of rigourous research at the individual company level. The fund's manager Gordon Grender is a stockmarket veteran and has managed this fund for over 25 years. He targets shareholder friendly companies and takes a buy and hold approach, which results in a concentrated portfolio of some 30 stocks.

Fund summary

Sector North America
Structure OEIC
Launched January, 1985
Size £0m
Yield 0.00%
Charging basis Income
Dividends paid 28 Feb

Charges

Standard initial charge 5.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.53%

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Investment process

The fund's objective is capital appreciation through investment in quoted securities in the USA and Canada. The fund's manager takes a longer term view of markets employing a buy and hold approach to stocks. Conservatively run companies with strong business models are backed and they usually feature the following characteristics: Companies that can expand through their own generation of cash; management shareholdings; sales growth; undervalued vs long-term growth prospects and leanly-run companies. The majority of stock ideas emanate from the manager’s long experience and industry contacts.

Manager research

Average monthly relative returns

  • 14/15 -0.24%
  • 15/16 -0.57%
  • 16/17 0.33%
  • 17/18 0.09%
  • 18/19 -0.37%

Bestinvest MRI

  • 3 years 0.02%
  • 5 years -0.15%
  • Career 0.20%
  • 3 years 61.40%
  • 5 years 41.70%
  • Career 96.90%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Gordon Grender

Gordon Grender is the Investment Adviser to GAMerica, GAM North America Growth, GAMerica Capital and GAM Star America. He has been associated with GAM since 1983 and is a Director of GAM International Management Ltd. Mr Grender has been actively involved in fund management in North American stockmarkets since 1974. Between 1964 and 1990 he was with London stockbrokers Kitcat & Aitken.

Track record

Gordon Grender has 34.7 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.2%. During the worst period of relative performance (from April 1994 - March 1999) there was a decline of 38% relative to the index. The worst absolute loss has been 37%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 97%.

Periods of worst performance

Absolute -37.00% (August 1987 - October 1987)
Relative -38.00% (April 1994 - March 1999)

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

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Top 10 holdings

Data accurate as at 31 July 2019

9.4754% Icu Medical Inc
7.2812% Post Hldgs Inc
6.4066% Esco Technologies Inc
5.4367% Church & Dwight
4.9962% Northrop Grumman Corp
4.7602% Lockheed Martin Corp
4.718% Phillips 66
4.6742% Autozone Inc
4.6724% Quanta Services Inc
4.6323% Penske Automotive Group Inc Usd0.0001
Source: Trustnet

Sector breakdown

Industrials 24.00%
Net Current Assets 12.00%
Consumer Discretionary 12.00%
Consumer Staples 11.00%
Financials 10.00%
Money Market 10.00%
Energy 8.00%
Materials 7.00%
Health Care 5.00%
Information Technology 1.00%

Portfolio

A concentrated portfolio of some 30 stocks.

Key Investor Information - Income

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Key Investor Information - Accumulation

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