Edward Evans, Columnist

Blame Humans for This Robot Hedge Fund Malfunction

GAM’s hopes for Cantab were too optimistic.

July 13, 2018 at 6:56 AM EDT

Edward Evans is a managing editor with Bloomberg Opinion. He is former managing editor for European finance at Bloomberg News.

Don't blame the black boxes.
Photographer: Jason Alden/Bloomberg

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If only it could all be blamed on those Cambridge boffins and their robots. GAM Holding AG can’t pin all of its troubles on its bet on a computer-driven hedge fund.

The Swiss asset manager warned on Friday that profit would suffer as it wrote off $59 million of goodwill on its $217 million acquisition of Cantab Capital Partners LLP, a trend-following hedge fund it acquired in October 2016.

Before it’s here, it’s on the Bloomberg Terminal

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