GAM declined an offer from Schroders for its Systematic division, which manages the Cantab quantitative hedge fund. The Swiss asset manager is reportedly in talks with potential buyers for some or all of its business as it seeks to stabilise the company. In a statement, Schroders, one of Europe's largest investment banks, said that "given recent market volatility and uncertainty over the future direction of the global financial markets, we have decided not to pursue any transaction involving
GAM declined an offer from Schroders for its Systematic division, which manages the Cantab quantitative hedge fund. The Swiss asset manager is reportedly in talks with potential buyers for some or all of its business as it seeks to stabilise the company. GAM is concerned that offloading Systematic, one of its most successful units, would hamper its chances of selling the whole company.