GAM nabs Janus Henderson equities team

Swiss fund manager GAM Investments has brought in a new team to run its flagship European funds in a move that signals renewed institutional interest in European markets.

GAM has appointed a European equities team from Janus Henderson to manage its GAM Star European Equity and Continental European Equity funds.

The new team comprises Tom O'Hara as investment director, alongside investment managers Jamie Ross and David Barker, all formerly of Janus Henderson.

GAM group chief executive Elmar Zumbuehl said the appointments significantly strengthen the firm's specialist active equity offering. "With investor interest returning to Europe, we see this as a powerful step forward for GAM's specialist active equities platform and our clients," he said.

O'Hara brings seven years of European equity fund management experience from Janus Henderson, having previously spent eight years as a sell-side equity research analyst. Ross, a portfolio manager with almost two decades at Janus Henderson, started his career at the firm. Barker joined Janus Henderson's research team in 2021, having previously worked as an aerospace, defence and industrials analyst at Bank of America Merrill Lynch.

O'Hara said the timing was right "It's great to be joining GAM. This is a very exciting time in the company's turnaround, supported by a long-term focused majority owner and a strong, investment-led culture that traces its roots to Gilbert de Botton."

The team also believes the macro backdrop is shifting decisively in Europe's favour.

"For decades, cheap valuations alone weren't enough to catalyse change in Europe. But that's no longer the case. Geopolitical realignment sparked, in part, by the return of Donald Trump who has done more for EU unity than any post-war president," said Ross.

"We're seeing a more assertive Europe: a looser fiscal stance in Germany, more coherent messaging from EU leaders, and growing momentum for innovation, investment, and regulatory simplification.

"Europe has a generational opportunity to redefine itself that demands cohesive action across industrial policy, energy security and tech sovereignty. These shifts will create a new generation of winners across the region. We believe this marks a key turning point for the European equity market."

Barker added that the trio will remain consistent with its past investment style, managing concentrated, high-conviction portfolios of approximately 30 stocks using what he calls their "All-in" framework.

This approach combines expected earnings growth, cash return and valuation change to assess whether a company's return potential exceeds that of the broader market.

The appointments come as GAM continues its strategic restructuring under majority owner NewGAMe, the investment vehicle backed by senior GAM management and Rock Springs Capital.