GAM has said it expects to return cash to investors in its suspended £5.6bn unconstrained/absolute return bond funds (ARBF) by early September, in an update on its liquidation plans following the suspension of manager Tim Haywood in July.
GAM added it had obtained the necessary approvals to liquidate the range while also outlining plans to launch a UCITS product for investors wishing to remain invested with the team. On 10 August, the firm announced it had decided to liquidate its suspended absolute return bond fund range on the back of high levels of redemption requests following the suspension of manager Haywood. Haywood, who was the business unit head for GAM's CHF 11bn (£8.5bn) AUM unconstrained/absolute return bond strategy, was suspended on 31 July following an internal investigation into issues relating to his...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
