GAM Clients Pull $3.6B as Market Chaos, Scandal Hits Home

The transcript discusses the financial challenges faced by GAM, including a $3.6 billion withdrawal due to market volatility. European asset managers are under pressure from the rise of passive management, which is more prevalent in the US. The importance of scale for asset managers is highlighted, as they face outsized redemptions and competition from passive strategies.

What impact did the loss of a star fund manager have on the asset management industry?

What does the term 'outsized redemptions' refer to in the context of asset management?