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GAM activist cuts stake after concluding turnaround plans are ‘too ambitious’

KGI has previously demanded that GAM re-examine options for selling all or part of the company

A Czech Republic-based activist investor in GAM has “significantly reduced” its position in the Swiss asset manager after its most recent set of results failed to impress.

Krupa Global Investments, which announced in August 2019 it was almost tripling its stake in the asset manager, said GAM’s management had “failed to show [a] meaningful strategy for shareholders”.

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