George Soros builds 3% stake in troubled GAM

Billionaire investor George Soros has built up a 3% stake in GAM Holding, sending shares in the troubled Swiss asset manager up 15% to a near six-month high. The stake, reported through a filing to the Swiss stock exchange on Friday, was bought by SFM UK Management LLP, a subsidiary of Soros Fund Management. Soros is not the first investor to snap up a significant stake in GAM, with Mario Gabelli's New York-listed firm Gamco building up a similar-sized position towards the end of 2018...