GAM knocks back Schroders' attempt to buy hedge fund unit - reports

Acquisition could hurt overall sale potential

GAM chief executive Alexander Friedman

GAM chief executive Alexander Friedman

Embattled Swiss asset manager GAM has declined an approach from Schroders to acquire its Systematic division that is home to the Cantab quantitative hedge fund.

According to the Financal Times, Schroders approached the Swiss asset manager with an interest in its hedge fund business, but the firm rebuffed the purchase attempt due to concerns that selling one of...

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