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GAM raises $600m in nine months

GAM, the active asset manager owned by UBS, has raised $600m (€493.5m) for its Trading V fund in just nine months and plans to cap the fund at $750m.

GAM will close the fund's US dollar, euro, sterling and Swiss franc classes to new investment in order to protect existing shareholders' interests. The firm has a history of capping funds at similar or lower levels.

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