Wyn Thomas - Axys Investment Management

Weekly Market Update 10th August 2018

GAM SUSPENDS STAR BOND MANAGER

This week has been thankfully quiet by recent standards, making it possibly the worst time for an asset manager to make the headlines. Without
warning GAM suspended one of its star bond managers and gated his funds, preventing investors from withdrawing their money. This was followed by a
period of radio silence and then a confusing series of press releases. Even now, no one is quite sure what went on, with reports suggesting it has nothing
to do with his investments. Investors are understandably annoyed and analysts are predicting a sizeable move away from the manager as a result. A
reminder that even the most successful companies are only an overzealous HR department away from failure. Read more…