Selectors retain faith in absolute return despite losses
Appetite still high despite underperformance and recent Gam fiasco
Appetite still high despite underperformance and recent Gam fiasco
First payments due to be made next week
Closed unconstrained fund range was available to retail investors despite complex derivatives and currency swaps
The Swiss asset manager gated redemptions from the range last week
Unease comes as Gam freezes Tim Haywood’s absolute return bond fund
The Swiss fund group has been criticised for its “panicky” handling of lead bond manager Tim Haywood’s suspension
Gam Investments has halted new money coming into and out of its unconstrained absolute return bond funds (ARBF) following manager Tim Haywood’s suspension.
Gam has suspended one of its investment directors after an internal investigation relating to risk management procedures, it announced today.
Investors often fear the ‘black-box’ notion attached to systematic investing because they don’t know what occurs behind the scenes, but Camilla Schelpe, lead scientist at GAM Systematic, says essentially it boils down to a set of rules which dictate how portfolios behave in different market environments.
GAM Investments has boosted its private client and charities business with the hire of Joss Mitchell from Kleinwort Hambros.
GAM is set to introduce fresh caps on the bonuses paid to its top bosses next year following a shareholder revolt against excessive pay outs earlier this year.
Artemis Investment Management has appointed Andy Marsh to replace Adrian Gosden in its UK equity income team.