Finance
Investors Pull Back From GAM’s Quant Arm Amid Restructuring
- Swiss firm’s Systematic unit experienced outflows recently
- Redemptions followed announcement of several departures
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Investors have withdrawn hundreds of millions of dollars from a GAM Holding AG quantitative trading division as the Swiss asset manager restructures its investment operations, according to people familiar with the matter.
Assets under management at the GAM Systematic unit fell to $120 million at the end of August, down from more than $500 million before the revamp, according to one of the people, who asked not to be identified because the information isn’t public. The division traces its roots back to Cantab Capital Partners, a hedge fund manager GAM acquired in 2016.