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Transcript of GAM Star Fund p.l.c. - GAM Star Fund p.l.c. (the...

  • JNA1419-01

    www.gam.com

    GAM Star Fund p.l.c. Prospectus

    6 February 2014

    (an open ended umbrella investment company with variable capital incorporated with limited liability under the laws of Ireland, registered number 280599).

    The Company is an umbrella fund with segregated liability between Funds.

    6 February 2

    0 1

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  • The Directors of the Company, whose names appear under the heading “Management of the Company”, accept responsibility for the information contained in this Prospectus. To the best of the knowledge and belief of the Directors (who have taken all reasonable care to ensure that such is the case) such information is in accordance with the facts and does not omit anything likely to affect the import of such information. The Directors accept responsibility accordingly.

  • GAM Star Fund p.l.c.

    3

    JOB: A14-1419-01 GAM Pro English | Page 3 | T: Amity Comms: +44 (0)20 7324 6082/6083 | Feb-07-14

    Preliminary 6

    Definitions 8

    Directory 13

    Introduction 16

    Investment Objectives and Policies 16

    Financial Derivative Instruments 17

    Investment Restrictions 22

    Borrowings 25

    Risk Factors 25

    Management of the Company 35

    Company 35

    Manager 35

    Co-Investment Managers 36

    Delegate Investment Managers 36

    Sponsor 36

    Custodian 36

    Global Distributor 37

    Correspondent Banks/Paying Agents/Facilities Agents 37

    Investing in the Company 37

    Description of Shares 37

    Eligible Investors 37

    How to Buy Shares 38

    How to Sell Shares 41

    How to Switch Shares 42

    Currency Dealing Service 43

    Transfer of Shares 43

    Dilution Levy 43

    Dividends 43

    Fees and Expenses 44

    Determination of Net Asset Value 47

    Publication of Prices 48

    Compulsory Redemption of Shares 48

    Termination of a Fund or Share Class 49

    Suspension 49

    Market Timing and Frequent Trading Policy 49

    Recording of Telephone Instructions 50

    Change of Shareholders’ details 50

    Complaints 50

    Appendix I 51

    Funds and Share Classes

    Appendix II 100

    Co- and Delegate Investment Managers/Correspondent

    Banks/Paying Agents/Facilities Agents

    Appendix III 106

    General Information

    Appendix IV 114

    Taxation

    Appendix V 121

    Techniques and Instruments for the Purpose of Efficient

    Portfolio Management

    Appendix VI 125

    Bank Accounts

    Appendix VII 127

    Recognised Markets

    Appendix VIII 130

    Country Specific Information

    Appendix IX 132

    Collateral Management

  • 4

    JOB: A14-1419-01 GAM Pro English | Page 4 | T: Amity Comms: +44 (0)20 7324 6082/6083 | Feb-07-14

    GAM Star Absolute Emerging Markets 133

    Supplement 1

    GAM Star Absolute Global Portfolio 138

    Supplement 2

    GAM Star Absolute Return Bond 147

    Supplement 3

    GAM Star Absolute Return Bond Defender 153

    Supplement 4

    GAM Star Absolute Return Bond Plus 159

    Supplement 5

    GAM Star Alpha Spectrum 165

    Supplement 6

    GAM Star Alpha Technology 171

    Supplement 7

    GAM Star Asian Equity 178

    Supplement 8

    GAM Star Asia‑Pacific Equity 182

    Supplement 9

    GAM Star Balanced 186

    Supplement 10

    GAM Star Barclays Diversified Alternatives 192

    Supplement 11

    GAM Star Capital Appreciation US Equity 199

    Supplement 12

    GAM Star Cat Bond 204

    Supplement 13

    GAM Star Cautious 212

    Supplement 14

    GAM Star China Equity 218

    Supplement 15

    GAM Star Composite Global Equity 223

    Supplement 16

    GAM Star Continental European Equity 228

    Supplement 17

    GAM Star Credit Opportunities (EUR) 232

    Supplement 18

    GAM Star Credit Opportunities (GBP) 237

    Supplement 19

    GAM Star Credit Opportunities (USD) 242

    Supplement 20

    GAM Star Defensive 247

    Supplement 21

    GAM Star Discretionary FX 253

    Supplement 22

    GAM Star Dynamic Global Bond 258

    Supplement 23

    GAM Star Emerging Asia Equity 265

    Supplement 24

    GAM Star Emerging Equity 269

    Supplement 25

    GAM Star Emerging Market Rates 276

    Supplement 26

    GAM Star European Equity 283

    Supplement 27

    GAM Star Flexible Global Portfolio 287

    Supplement 28

    GAM Star Frontier Markets Bond 292

    Supplement 29

    GAM Star GAMCO US Equity 299

    Supplement 30

    GAM Star GEO 303

    Supplement 31

    GAM Star Global Convertible Bond 309

    Supplement 32

    GAM Star Global Diversified 315

    Supplement 33

    GAM Star Global Equity 319

    Supplement 34

    GAM Star Global Equity Inflation Focus 325

    Supplement 35

    GAM Star Global Leaders 329

    Supplement 36

    GAM Star Global Macro 333

    Supplement 37

    GAM Star Global Quality 339

    Supplement 38

    GAM Star Global Rates 343

    Supplement 39

    GAM Star Global Selector 349

    Supplement 40

  • GAM Star Fund p.l.c.

    5

    JOB: A14-1419-01 GAM Pro English | Page 5 | T: Amity Comms: +44 (0)20 7324 6082/6083 | Feb-07-14

    GAM Star Growth 355

    Supplement 41

    GAM Star Japan Equity 360

    Supplement 42

    GAM Star Keynes Quantitative Strategies 364

    Supplement 43

    GAM Star Local Emerging Bond 371

    Supplement 44

    GAM Star Local EM Rates and FX 377

    Supplement 45

    GAM Star North American Growth 385

    Supplement 46

    GAM Star North of South EM Equity 389

    Supplement 47

    GAM Star QFS Global Macro Currency 396

    Supplement 48

    GAM Star Tactical Opportunities 402

    Supplement 49

    GAM Star Technology 412

    Supplement 50

    GAM Star Trading 418

    Supplement 51

    GAM Star UK Diversified 423

    Supplement 52

    GAM Star US All Cap Equity 427

    Supplement 53

    GAM Star Worldwide Equity 430

    Supplement 54

  • 6

    JOB: A14-1419-01 GAM Pro English | Page 6 | T: Amity Comms: +44 (0)20 7324 6082/6083 | Feb-07-14

    Preliminary If you are in doubt about the contents of this Prospectus, you should consult your stockbroker, bank manager, accountant, solicitor or other financial adviser.

    This Prospectus may only be issued with one or more of its Supplements attached. Each Supplement contains specific information relating to a particular fund.

    This Prospectus is in substitution for and supersedes the Prospectus dated 4 June 2013.

    GAM Star Fund p.l.c. (the “Company”) is an open-ended umbrella investment company with variable capital incorporated with limited liability under the laws of Ireland and authorised by the Central Bank pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 1989 (the “1989 UCITS Regulations”) and is subject to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011.

    Authorisation of the Company is not an endorsement or guarantee of the Company by the Central Bank nor is the Central Bank responsible for the contents of this Prospectus. The authorisation of the Company by the Central Bank shall not constitute a warranty as to the performance of the Company and the Central Bank shall not be liable for the performance or default of the Company.

    Neither the admission of the Shares to the Official List of The Irish Stock Exchange nor the approval of the Prospectus and its Supplements pursuant to the listing requirements of The Irish Stock Exchange shall constitute a warranty or representation by The Irish Stock Exchange as to the competence of service providers to the Company or any other party connected with the Prospectus and its Supplements, the adequacy of information contained in the Prospectus and its Supplements or the suitability of the Company for investment purposes.

    No person has been authorised to issue any advertisement or to give any information, or to make any representations in connection with the offering, placing, subscription or sale of Shares other than those contained in this Prospectus and, if issued, given or made, such advertisement, information or representations must not be relied upon as having been authorised by the Company. Neither the delivery of this Prospectus nor the offer, placement, allotment or issue of any of the Shares shall under any circumstances create any implication or constitute a representation that the information given in this Prospectus is correct as of any time subsequent to the date hereof.

    This Prospectus does not constitute, and may not be used for the purposes of, an offer or solicitation to anyone in any jurisdiction in which such offer or solicitation is not authorised, or to any person to whom it is unlawful to make such offer or solicitation. The distribution of this Prospectus and the offering of Shares in certain jurisdictions may be restricted and, accordingly, persons into whose possession this Prospectus comes are required to inform themselves about, and to observe, such restrictions. Prospective investors