Swiss Firm Tries to Stem Fallout From $11 Billion Liquidation
- Swiss firm expects to finish wind-down of ARBF fund in July
- GAM to sell remaining material assets in fund at face value
This article is for subscribers only.
GAM Holding AG climbed the most since October after the company reported slowing outflows and said it would soon complete the liquidation of its scandal-hit bond fund.
The Swiss fund manager gained as much as 15 percent in Zurich trading, erasing this year’s declines. The Absolute Return fund, once operated by former star trader Tim Haywood, should be wound down by mid-July, GAM said on Wednesday.