Fund Analysts Hold GAM Rating Following Suspension

Analysts hold GAM’s parent rating at Neutral following the suspension of Tim Haywood and dealing in related funds

Natalia Wolfstetter 6 August, 2018 | 10:13AM
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Analysts hold GAM’s parent rating at Neutral following the suspension of Tim Haywood and dealing in related funds

GAM announced on 31 July 2018 the suspension of Tim Haywood, investment director and business unit head for the unconstrained/absolute return bond strategy. This follows an internal investigation into issues relating to "his risk management procedures and his record keeping in certain instances." No wider breach has been found involving people from other departments or close colleagues.

As the investigation isn't complete, the precise nature of the issue hasn't been fully disclosed. A key question is whether any shortcomings have been uncovered in the firm’s risk-management processes. Investment teams at GAM have primary responsibility for the level of risk in their portfolios.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
GAM Multibond Local Emerging Bond USD C344.75 USD0.32Rating
GAM Multistock Luxury Brands Eq USD C391.28 USD0.25Rating
GAM Star China Equity Ord USD Acc33.60 USD2.98Rating
GAM Star Japan Ldrs B EUR Acc189.09 EUR-0.75Rating

About Author

Natalia Wolfstetter  ist Director Fund Analysis bei Morningstar

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