Skip to content
Subscriber Only

GAM Liquidation Leaves 40% of Hedge Fund Investors’ Money Stuck

  • Swiss firm starts returning cash from frozen funds next month
  • Hedge fund investors will get 60% of their money initially
Video player cover image
Bloomberg’s Patrick Winters reports on GAM paying back some investors.(Source: Bloomberg)
Updated on

GAM Holding AG will start paying back investors in its frozen bond funds, but some will get money out faster than others.

The Swiss firm will initially return 74 percent to 87 percent of the assets in Luxembourg and Irish-domiciled funds that were previously run by suspended bond manager Tim Haywood. Investors in Haywood’s Cayman Islands-based hedge fund will only get about 60 percent in early September, with another 5 percent expected by the end of that month and the remainder paid out over time depending on market conditions.