GAM agrees deal to sell final ARBF assets

GFG Alliance will acquire outstanding debt

Tim Haywood was suspended by GAM last year

Tim Haywood was suspended by GAM last year

GAM has signed an agreement to sell the remaining debt related to its absolute return bond fund (ARBF) range, following last year's suspension of manager Tim Haywood.

In a Q1 trading update this morning (17 April), GAM said it had entered into a deal with "an entity within GFG Alliance", under which GFG has agreed to acquire all outstanding power purchase receivables notes held in accounts invested in the ARBF strategy managed by GAM International. GFG has already refinanced one-third of the notes it had issued, which were previously held in GAM strategies. Under the terms of the new agreement, GFG will purchase the final assets at the prices originally paid by the accountholders. GFG Alliance is an international, integrated business model spann...

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