August 28, 2018 / 5:12 AM / 3 months ago

BRIEF-GAM Holding Outlines Liquidation Plan For Unconstrained/Absolute Return Bond Funds

Aug 28 (Reuters) - GAM Holding AG:

* OUTLINES LIQUIDATION PLAN FOR UNCONSTRAINED/ABSOLUTE RETURN BOND FUNDS

* GAM INVESTMENTS ANNOUNCED TODAY THAT SUSPENDED UNCONSTRAINED/ABSOLUTE RETURN BOND FUNDS (ARBF) HAVE OBTAINED APPLICABLE APPROVALS TO START LIQUIDATION PROCESS

* ALL FUND INVESTORS WILL RECEIVE THEIR PROPORTIONATE INTEREST IN CASH FROM LIQUIDATION PROCESS

* EACH FUND EXPECTS TO BE ABLE TO MAKE FIRST PAYMENTS IN EARLY SEPTEMBER

* ALSO EXPECTS TO OFFER ALTERNATIVE STRUCTURES FOR INVESTORS WHO WANT TO REMAIN INVESTED WITH ARBF TEAM

* GAM HOLDING - UCITS FUND IS EXPECTED TO BE AVAILABLE FOR INVESTORS IN COMING WEEKS, AND COMPANY IS SETTING UP A NEW CAYMAN FUND AS WELL

* GAM SAYS EACH FUND RETURNING BETWEEN 74% AND 87% OF THE LUXEMBOURG AND IRISH-DOMICILED UCITS FUNDS, AND BETWEEN 60% AND 66% OF THE ASSETS IN THE CAYMAN MASTER FUND Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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