Swiss Firm Tries to Stem Fallout From $11 Billion Liquidation

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Swiss Firm Tries to Stem Fallout From $11 Billion LiquidationThe Absolute Return fund, once operated by former star trader Tim Haywood, should be wound down by mid-July, GAM said on Wednesday. 'Liquidation by mid-2019 is a positive -- if losses are avoided -- putting an end to the cause of major troubles for GAM,' Vontobel Holding AG analyst Andreas Venditti said in a note to clients. Wrapping up Haywood’s funds -- eight months after his suspension triggered a wave of outflows -- may revive interest in a sale of the company.

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