GAM Expects ‘Challenging’ 2019, Sacks Suspended Director

(Reuters) Assets under management at GAM Holding AG continued to fall at the end of last year, the Swiss group said on Thursday as it forecast a “challenging” 2019 ahead. GAM had a torrid year after being forced to write down the value of its $217 million acquisition of UK hedge fund Cantab and close several funds after suspending top money manager Tim Haywood for alleged breaches of its rules.

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