(Bloomberg) posted on Tue 28 Aug 2018 Permalink GAM Holding AG said it will start paying back investors in its frozen bond funds in early September after winning approvals to start liquidating the strategies that were run by suspended bond manager Tim Haywood. The Swiss firm will initially return 74 percent to 87 percent of the assets in Luxembourg and Irish-domiciled funds, and 60 percent to 66 percent of the holdings in the Cayman master fund and the associated Cayman and Australian feeder funds, GAM said in a statement on Tuesday. The company expects to make a further distribution for each fund before the end of September and continue payments in coming months, depending on market conditions.

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