|Bid||27.78 x 1000|
|Ask||0.00 x 1200|
|Day's Range||30.32 - 30.72|
|52 Week Range||27.00 - 37.33|
|Beta (3Y Monthly)||1.25|
|PE Ratio (TTM)||6.25|
|Forward Dividend & Yield||2.25 (7.59%)|
|1y Target Est||N/A|
GAM Holding AG revealed on Tuesday that its investigation and subsequent decision to suspend star fund manager Tim Haywood was prompted by a whistle-blower. Its treatment of the internal informant appears to have been exemplary.
Recent troubles for GAM Holding AG and one of its leading fund managers can be traced to a series of investments tied to a British industrialist, according to people familiar with the matter. Tim Haywood’s suspension six weeks ago -- which GAM said it decided upon after reviewing alleged violations of internal procedures -- partly relates to investments made in unlisted securities linked to companies controlled by Sanjeev Gupta, said the people, who asked not to be identified because an internal investigation at GAM is ongoing. Allegations that Haywood conducted insufficient due diligence on these investments were a key issue that prompted the fund manager’s suspension in July, the people said.
Short sellers have increased bearish wagers on GAM Holding AG, the Swiss money manager that’s facing redemptions after it suspended bond manager Tim Haywood and moved to liquidate some of his money pools. Short interest in GAM, a bet by investors that shares will fall, rose to 2.2 percent of outstanding stock as of Tuesday, up from 0.3 percent at the end of last month, according to data compiled by IHS Markit. GAM shares have lost about a quarter of their value this month alone and were down as much as 11 percent on Thursday after Credit Suisse Group AG analyst Tom Mills reduced his target price on the stock by 51 percent to 7 Swiss francs.
GAM Holding AG has begun to pay back investors in the frozen bond funds of suspended bond manager Tim Haywood, but some will get their money faster than others. Bloomberg's Patrick Winters reports on "Bloomberg ...
GAM Holding AG has begun to pay back investors in the frozen bond funds of suspended bond manager Tim Haywood, but some will get their money faster than others. Bloomberg's Jason Kelly reports on "Bloomberg ...
GAM Holding AG will start paying back investors in its frozen bond funds, but some will get money out faster than others. The Swiss firm will initially return 74 percent to 87 percent of the assets in Luxembourg and Irish-domiciled funds that were previously run by suspended bond manager Tim Haywood. Investors in Haywood’s Cayman Islands-based hedge fund will only get about 60 percent in early September, with another 5 percent expected by the end of that month and the remainder paid out over time depending on market conditions.
Swiss investment firm GAM Holding AG shut down one of its biggest fund strategies and suspended a top money manager in a bruising few weeks. Since the firm announced the suspension of Tim Haywood on July 31 and froze his funds, investors pulled about $2.3 billion from other GAM strategies, according to data compiled by Bloomberg through Aug. 17. While the numbers may not entirely capture firm-wide flows, especially from private funds, they do suggest that redemptions accelerated from July, when clients took out some $800 million.
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 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 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.