Gam woes put spotlight on unconstrained bond funds

Embattled fund house Gam’s woes deepened further last week after it halted dealing in its absolute return bond funds (ARBFs) after suspending the products’ lead manager. Its ongoing issues risk tarnishing the appeal of such funds, which have grown in popularity in recent years with Asian and global investors.  Gam said on August 2 that all subscriptions and redemptions in its Sfr7.3 billion ($7.35 billion) of ARBFs had been suspended as of July 31 following a high level of redempt…