A bidding war has broken out over the crisis-ridden Swiss fund company GAM. Now its fund managers are also taking sides.
Senior fund managers are now also getting behind Lion Trust’s offer to buy GAM, as they stated on the company website Tuesday.
Interestingly the fund managers have no certainty about what will happen to the company if it is sold to the UK based competitor.
«It is our view that an industry sale to a highly regarded peer with a heritage in fund management, a strong track record of acquisitions and integrations and consistently strong profitability is in the best interests of GAM clients,» the statement says, quoting the fund managers.
Furthermore, they see a «cultural alignment» between GAM and Liontrust, which would enable them to focus on their clients’ best interests, should the deal go ahead.
