Global Asset Management (GAM), the investment management firm owned by UBS, has postponed the launch of its GAM Star American Focus fund, following the terrorist attacks in the US that prompted the closure of US markets.

The fund was originally planned to launch this week. GAM has not announced a new date as yet, but can be expected to be following the markets closely before it makes any decisions. The firm said that it is operating normally, and that its New York office remains open. Dealing on a number of funds with US exposure has been suspended, where calculations on net asset values has not been possible. The fund will be managed by James Abate.