GAM has suspended trading in its unconstrained and absolute return bond funds (ARBF) as a result of the high level of redemption requests following the suspension of manager Tim Haywood earlier this week.
Haywood was suspended by GAM on 31 July following an internal investigation into issues relating to his risk management procedures and record keeping. In a statement, GAM stressed that the investigation into Haywood "has not raised concerns regarding his honesty". The manager is the business unit head for GAM's CHF11bn (£8.5bn) AUM unconstrained/absolute return bond strategy (ARBF). In Haywood's absence, investment directors Jack Flaherty and Alex McKnight have taken joint responsibility for the ARBF and other associated portfolios. However, following the announcement of his suspen...
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