What was the timeline of events leading to the dismissal of the bond manager?
GAM Ousts Tim Haywood After Scandal Triggers Plunge in Assets
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The transcript discusses the drama surrounding a bond manager who was dismissed after significant outflows from the investment firm. The firm faced $3.6 billion in outflows since November, compounded by industry-wide fee compression. The dismissal, which was surprising to some, may be appealed. The market initially reacted negatively but then stabilized. The situation highlights issues with disclosures and the challenges faced by the firm in recovering from these events.
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How did the investment firm plan to address the outflows and fee compression issues?
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