The title of GAM are among the worst performing stocks in the whole of Europe. But that doesn’t stop the well-known Investor and philanthropist George Soros to invest in the Swiss asset managers. After the title within a year will have lost three quarters of its value, Soros on 16. May got on his SFM UK Management LLP, with 3 per cent for GAM.
SFM UK Management LLP is a subsidiary of the family offices of the Hungarian-American billionaire. After the Deal was announced, and won the GAM for the start of trading significantly.
the motives for The entry of Soros are not known, the economic Agency Bloomberg. But previously, GAM had attracted the attention of bargain hunters. So, for example, had increased in November 2018 Investor Mario Gabelli to its share at about 3 percent and had risen to be one of the ten most important shareholders in GAM.
GAM in a deep crisis
GAM had suspended the Fund Manager Tim Haywood last August after an internal investigation because of his handling of risk management and its records in certain cases.
According to the GAM, the Manager had violated internal policies. Haywood’s suspension has plunged the company into existential problems, because many investors wanted to withdraw their money from the Haywood-managed Absolute-Return-bond-Fund. GAM was then forced to close the bond funds with approximately 7.3 billion Swiss francs. The share price collapsed.
lastly, the shareholders refused to the Management at the annual General meeting in may, the Discharge. GAM is after the crash in the stock market as a takeover candidate. (gku/”trade newspaper”)
On the 12. Of August 1930, George Soros was born in Budapest. The Holocaust, he survived only because the father of the family concerned in good time fake passports. After the seizure of power by the Communists, fled Soros as a 17-Year-old to London. At the London School of Economics he made in 1952 his exam.
Soros remained initially in the UK and as a seller of fashion jewelry. The stock exchange of crafts, he learned, finally, from the investment house Singer & Friedlander. However, four years later, he moved to the United States. There, he worked at various brokers before he made in 1969 at the age of 39 years self-employed. With a Partner, the now-Naturalized bought a Curacao registered Offshore Fund, named him in “Quantum” and transforms it into a Hedge Fund.
on average, up 30 percent
‘ve Now gambled Soros with the money of wealthy clients. Anyone who wanted to participate had to bring at least 1 Million dollars. The financial magicians put on macro-economic Trends. Sleep he knew which direction currencies, stocks and bonds would follow. Quantum has been the most successful product of its kind. In the first 30 years, the Fund generated each year, Plus an average of 30 percent.
Soros secured a place in the ancestral gallery of the Wall Street. He is named in one breath with legends such as Warren Buffett and his Berkshire Hathaway. A major part of his billions in wealth he has bequeathed to 2017 a Foundation.
This article was published in the “handelszeitung”. More exciting articles, see www.handelszeitung.ch.