(Reuters) GAM Holding AG will take an impairment charge of around 59 million Swiss francs ($58.9 million) related to its 2016 acquisition of British hedge fund Cantab Capital Partners, the Swiss group said while flagging a sharp drop in first-half profit. The writedown reflects “lower assets under management and cash flows compared with those forecast at the time of the Cantab acquisition”, it added in a statement on Friday.
Swiss GAM Sees H1 Profit Hit From Cantab Writedowns
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