Gam AUM shrivels by 20% following Haywood saga
Excluding Haywood’s fund range, net outflows were CHF 5.3bn
Excluding Haywood’s fund range, net outflows were CHF 5.3bn
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Compliance issues that resulted in Tim Haywood’s exit hit reputation and flows
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Swiss asset manager says hire will improve relationships with trading counterparties
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CEO Alexander Friedman says group will protect employee who blew the lid off star manager’s conduct issues
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Two funds in the nine-strong range will have returned 82% of assets
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Appetite still high despite underperformance and recent Gam fiasco
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First payments due to be made next week
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Closed unconstrained fund range was available to retail investors despite complex derivatives and currency swaps
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The Swiss asset manager gated redemptions from the range last week
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Unease comes as Gam freezes Tim Haywood’s absolute return bond fund
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The Swiss fund group has been criticised for its “panicky” handling of lead bond manager Tim Haywood’s suspension
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Gam Investments has halted new money coming into and out of its unconstrained absolute return bond funds (ARBF) following manager Tim Haywood’s suspension.
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