RPT-GAM names Bennett's long-only fund successor

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* To manage GAM European equity funds

* Starts managing long only funds in Dec

LONDON, Oct 27 (Reuters) - Julius Baer asset management arm, GAM (GAMH.VX), said on Tuesday it has appointed Niall Gallagher to take over the long-only funds managed by John Bennett, the senior fund manager who will join rival Gartmore at year-end.

Gallagher will join GAM in London Nov. 2 from T. Rowe Price, where he managed pan-European and continental European equities.

At GAM, he will manage the company's European long only equity strategies, which include GAM Star European Equity LP60049336 and GAM Star Continental European Equity LP60089057, it said in a statement.

The funds have a total of about $900 million in assets.

Gallagher will manage the funds from early December, taking over directly from Bennett.

In September, GAM named internal investment director Mark Hawtin to take over Bennett's European long-short responsibilities, which involve $180 million in assets.

Julius Baer BAER1.VX has separately listed its investment banking and asset management as part of its streamlining programme. The spin-offs are expected to be given more room for strategic decisions including acquisitions. [ID:nN24468162]

The euro-denominated GAM Star European Equity fund has returned a negative 0.58 percent in the 12 months to end-September, but has outperformed its peers in the Lipper Global benchmark by 1.35 percent in the same period, data from Lipper showed.

The sterling-denominated continental European fund has returned a postive 20 percent over the 12 months, outpacing its peers by more than 4.5 percent, Lipper said. (Reporting by Cecilia Valente, Editing by David Cowell)