GAM, the Switzerland-based investment manager, has reached a definitive agreement to transfer its ManCo activities in Ireland, Luxembourg and the UK to Apex Group Ltd. The transaction is subject to applicable regulatory approvals and other customary conditions.
The transfer agreement includes the sale of GAM Fund Management Ltd, Dublin, including its in-house transfer agency function, to Apex. The agreement reached also means that GAM will transfer ManCo services for GAM funds in Luxembourg and the UK to corresponding subsidiaries of Apex.