The Swedbank investment management arm in Estonia, Hanse Investeerimisfondid, has announced that it will liquidate the Hansa GAM Diversity Fund and the Hansa GAM Multi-Arbitrage Fund. The Estonian-language business daily Aripaev reported that creditors will be required to hand in their claims on the funds by Jan. 10, 2009. The funds will reportedly be liquidated by May 10 of next year. GAM Diversity Fund has produced a yield of minus 8 percent and GAM Multi-Arbitrage Fund of minus 5.76 percent since inception. "Considering the instability that is plaguing the financial world, it is clear that products involving greater risk are no longer attractive for investors in the long-term outlook," Fabio Filipozzi, fund manager at Hansa Investeerimisfondid, told the newspaper.
