GAM suspends dealing on Haywood's ARBF funds after 'high level' of redemptions

Outflows would cause "disproportional shift" in portfolios

Laura Dew
Tim Haywood of GAM

Tim Haywood of GAM

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...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on Asset Managers

FCA also cracks down on high-risk investment adverts

FCA launches consultation to broaden access to LTAF

Tightens high-risk advertising rules

Jenna Brown
clock 01 August 2022 • 3 min read
Asset managers prioritised Article 8 and Article 9 products for the first phase of the European ESG Template reporting, but Morningstar research shows that the data is inconsistent.

Financial advisers will struggle to meet MiFID II sustainability obligations due to patchy data

Lack of product comparability

clock 29 July 2022 • 2 min read
Industry Voice: Winning by not losing

Industry Voice: Winning by not losing

An asset allocation perspective during a regime shift: focus on policy, inflation and growth

Yoram Lustig & Michael Walsh at T. Rowe Price
clock 27 July 2022 • 2 min read