GAM Star (Lux) Galena Commodities E $

Investment Objective The aim of the sub-fund ('Fund') is to participate indirectly in the growth potential of the international commodity and futures markets and thus to achieve long-term capital growth. Investment Policy The Fund invests at least 2/3 of its assets in a broadly diversified set of commodities or commodity classes using complex financial instruments. These complex financial instruments offer the same returns as the underlying commodities. As a result, there is no direct investment in physical commodities. The Fund may invest its assets in various currencies, the fluctuation in which is hedged against the base currency.The obligations of the Fund arising out of its investments in complex financial instruments are covered by debt securities, money market instruments or cash. The debt securities are issued or guaranteed by governments or companies and offer a very high likelihood of being repaid on maturity.The Fund may use complex financial instruments to hedge the Fund assets and to profit from promising investments.The Fund is actively managed, with the Bloomberg Commodity Index (the "Benchmark") used for risk monitoring purposes. The Benchmark does not drive investment decisions in terms of portfolio construction. The Investment Manager may take commodity positions that differ from the Benchmark and may also invest in permitted commodities outside the Benchmark where suitable opportunities are identified. Share Class Policy: The Fund has several share classes. These may differ with regard to fees, minimum investment, use of revenues and investor qualification. Processing of subscription and redemption orders Investors may buy or sell the Fund on any bank working day in Luxembourg. Income is reinvested in the share class.

PIR compliant

No

PEA compliant

No

PEA-PME compliant

No