Tim Haywood (Image: Youtube/Bloomberg)
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GAM’s suspension of star fund manager Tim Haywood is wreaking havoc on the Swiss asset manager. The company’s risk management may be partly to blame, finews.asia has learned.
Zurich-based GAM has begun picking apart star fund manager Tim Haywood’s absolute return bond fund assets for sale. The proceeds are to be returned to investors, who have been clamoring for redemptions ever since Haywood was suddenly suspended six weeks ago.
The move raises four major questions. First: is the liquidation of GAM’s flagship fund merely the tip of the iceberg in the opaque world of «unconstrained» investments, threatening to spill over into other asset managers?
Reasons Remain Unclear
Second: Will GAM clients also pull money from the asset…
