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GAM Suspends Trading In Bond Funds

GAM Investments announced today that all subscriptions and redemptions in its unconstrained/absolute return bond funds (ARBF) have been suspended as of 31 July 2018 by the relevant fund boards of directors following high level of redemptions. The fund boards are considering all future steps, including fund liquidations, to maximise value and liquidity for clients. The impacted funds represented CHF 7.3 billion in assets under management as at 31 July 2018. Following the suspension of Tim Haywood, the ARBF funds have experienced a high level of redemption requests. Although the funds have the necessary liquidity to serve these requests, such actions would...