Stock Groups

GAM returns full value of Greensill-linked fund to clients

by Mike Robinson

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© Reuters. FILE PHOTO – The Greensill Bank logo is seen in Bremen, Germany on March 10, 2021. REUTERS/Fabian Bimmer

ZURICH, (Reuters) – GAM Holding, a Swiss asset management company, informed its employees on Thursday that the fund was linked to Greensill supply chain finance firm Greensill.

In an internal memo, the asset manager stated that GAM had announced today that it has returned more than 100% of the GAM Greensill Supply Chain Finance Fund’s value to its clients.

“Final payments were made to clients on the 28th of January 2022. This fund’s closure marks the end GAM’s relationship with Greensill.”

Greensill fell in March 2021 just days following the collapse of its predecessor. Credit Suisse (SIX) said goodbye to its Softbank-backed finance group funds. GAM also followed the lead and closed down its fund.

Credit Suisse continues to work with its clients to return funds.

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