An activist investor in GAM has set a two-month deadline for the Swiss asset manager’s board to explain how it will return the company to profitability, and has threatened to vote against executives at the next annual shareholder meeting if its plan lacks credibility.

Krupa Global Investments, which says it owns 3% of GAM “in shares, options and contracts for difference”, said it was supportive of requests made by fellow activist investor Bluebell Capital Partners, which recently wrote to GAM chair David Jacob.