GAM returns full value of Greensill-linked fund

GAM has returned the total value of its $842m Greensill Supply Chain Finance fund to clients.

"GAM made the decision to close the fund in March last year, the amount returned to clients is based on the net asset value as at March 5th 2021," a spokesperson from the firm said.  

"Final payments to clients were made on 28th January 2022 and the closure of this fund marks the end of GAM's legacy business relationship with Greensill."

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Greensill, which had former prime minister David Cameron as an adviser, collapsed in March 2021 after Credit Suisse closed it funds over a lapsed insurance policy. 

Credit Suisse is still working to return money to clients.