|Bid||0.0000 x 1100|
|Ask||0.0000 x 800|
|Day's Range||36.0300 - 36.1700|
|52 Week Range||32.2000 - 36.5900|
|PE Ratio (TTM)||9.85|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Aug.10 -- GAM Holding will wind down nine funds after the suspension of manager Tim Haywood triggered redemption requests. Bloomberg's Jan-Henrik Foerster reports on "Bloomberg Markets: European Close."
Aug.10 -- Paul McNamara, director for EM fixed income at GAM Investment, discuses contagion concerns related to Turkey's economic issues and the impact capital controls could have on emerging markets. He speaks with Bloomberg's Alix Steel on "Bloomberg Daybreak: Americas."
Aug.02 -- GAM Holding AG slumped the most in nine years after the Swiss asset manager suspended Tim Haywood, the manager of its flagship absolute return bond strategy, and warned of risks to its investment flows. Bloomberg's Sridhar Natarajan speaks with Bloomberg's Lisa Abramowicz and Scarlet Fu on "Bloomberg Markets."
GAM Holding AG should be applauded for moving swiftly to resolve the crisis engulfing its 7.3 billion Swiss francs ($7.3 billion) of unconstrained absolute return bond funds. GAM said on Friday it has decided to liquidate the nine funds “to maximize liquidity and value for investors.” Here are five questions that clients should be asking GAM's leaders, including Chief Executive Officer Alexander Friedman, as a matter of urgency. How big are the redemption requests?
The recent discussion about a change in capital gains taxation is making hearts beat faster, especially among a small group of die-hard fans of closed-end funds. That could be a boon for some of the ancient funds we wrote about early last year -- funds that survived the 1929 stock market crash, then marched along, offering solid performance, high yields, cheap valuations, and strong share-buyback programs. (ticker: CET), Adams Diversified Equity (ADX), General American Investors (GAM), and Tri-Continental (TY).
GAM Holding AG shares continued their slide after the Swiss asset manager said it would liquidate some funds run by suspended manager Tim Haywood. The stock fell as much as 5.7 percent in Zurich, their third straight day of declines, as investors reacted to the loss of around $7.3 billion in assets from winding down some funds announced late Friday and associated management fees from managing those funds. “The credibility of GAM’s management remains impaired,” Zuercher Kantonalbank analyst Michael Kunz wrote in a note to clients.
The recent discussion about a change in capital gains taxation is making hearts beat faster, especially among a small group of die-hard fans of closed-end funds. The funds included Central Securities (CET), Adams Diversified Equity (ADX), General American Investors (GAM), and Tri-Continental (TY). One theory for the discount is that funds are sitting on hefty unrealized gains.
The bond manager suspended by GAM Holding AG last week didn’t depart from a legitimate investment strategy, the asset manager said in a letter to investors. No employees other than Tim Haywood, who oversaw the firm’s 11 billion franc ($11.1 billion) absolute return bond strategy, are being investigated by GAM, the Swiss investment company said in a letter dated Aug. 2, providing some additional details about the background to the disciplinary measures. Clients had rushed to pull their money from the products overseen by Haywood in the wake of his suspension, leading the money manager to freeze redemptions at the funds.
The top bond manager suspended by GAM Holding AG may have breached due diligence requirements and signed contracts alone where two signatures were required, the company said. Tim Haywood may have in certain instances failed “in GAM’s judgement, to conduct or evidence sufficient due diligence on some of the investments that were made, or make accessible internal records of documents relating to these,” the Swiss asset manager said in a Q&A published on its website Monday. Haywood also breached the company’s gifts and entertainment policy by not seeking the required pre-approval and used his own personal email for work, GAM said.
GAM Holding AG slumped the most in nine years after the Swiss asset manager suspended Tim Haywood, the manager of its flagship absolute return bond strategy, and warned of risks to its investment flows. ...
GAM Holding AG froze withdrawals from some bond funds as clients sought to pull their money after the suspension of fund manager Tim Haywood. Bloomberg's Elisa Martinuzzi reports on "Bloomberg Surveillance." ...
In April 2004, Swiss fund manager GAM Holding AG launched one of the first unconstrained fixed-income strategies for investors. Clients appreciated “the stability of the team, which since inception has remained largely unchanged under the leadership of Tim Haywood,” GAM said in its 2016 annual report.
Alexander Friedman is struggling to contain the damage of a series of troubling missteps at the Swiss investment firm he’s run since 2014. The latest came this week, when GAM Holdings AG took the unusual step of freezing withdrawals from some of its bond funds following what amounted to a run on those portfolios. The reason for investors’ angst: news that GAM had suspended a prominent money manager for possible problems with risk management and record keeping.
GAM Holding AG saw shares fall the most in nine years after suspending top bond manager Tim Haywood following a probe of his risk management procedures and record keeping. Bloomberg's Lisa Abramowicz reports ...
It’s been a terrible couple of weeks for GAM Holding AG. Earlier this month, GAM said it was writing off $59 million of goodwill from its acquisition of hedge fund Cantab Capital Partners, for which it paid $217 million in October 2017. On Tuesday, it announced the suspension of Tim Haywood, the portfolio manager of its flagship absolute return bond fund after investigating “some of his risk management procedures and his record-keeping.” Clients are likely to withdraw money as a result, GAM said.
GAM Holding AG slumped the most in nine years after the Swiss investment firm suspended the manager of its flagship bond fund and warned that the disciplinary action, together with volatile market conditions, may lead to outflows. GAM took action against Tim Haywood, who heads the 11 billion franc ($11.1 billion) absolute return bond strategy, after an investigation revealed issues with his risk management procedures and record keeping. It’s the latest blow to Chief Executive Officer Alex Friedman after the firm earlier this month issued a profit warning following an impairment charge at its Cantab quant fund unit.
The Swiss asset manager warned on Friday that profit would suffer as it wrote off $59 million of goodwill on its $217 million acquisition of Cantab Capital Partners LLP, a trend-following hedge fund it acquired in October 2016. The hoped-for growth in assets under management and performance fees never materialized. At the time of the purchase, Cantab had about $4 billion of assets under management.
General American Investors Company and Resource Capital are companies that are currently trading below what they’re actually worth. Smart investors can make money from this discrepancy by buying these shares,Read More...
President & CEO of General American Investors Inc. (NYSE:GAM) Jeffrey W Priest bought 4,000 shares of GAM on 02/08/2018 at an average price of $33.16 a share.
President & CEO of General American Investors Inc. (NYSE:GAM) Jeffrey W Priest bought 5,000 shares of GAM on 11/28/2017 at an average price of $33.49 a share.
GAM Holding AG is in talks to lease a new U.K. headquarters in the City of London more than a year after the Swiss asset manager cancelled an agreement to switch offices in the capital because of Brexit, ...