The staying power of George Soros was demonstrated in May this year when news the billionaire investor had bought a stake in GAM sent the asset manager’s stock soaring. Now, though, shares in the crisis-stricken company are below where they were when Soros bought in, leaving him nursing a paper loss.

Soros built a 3% stake in GAM via his SFM UK Management subsidiary, worth around 18.3m Swiss francs (about $18.5m), based on Financial News calculations. The move by one of the world’s most prominent investors, which was disclosed in regulatory filings to the Swiss stock exchange, boosted GAM’s share price by more than 15%.