Swiss asset manager GAM Holding said on Tuesday it plans to initiate an orderly wind down of its GAM Greensill Supply Chain Finance fund.

"Our portfolio is comprised of investment grade assets and we do not have any valuation concerns. As such we anticipate an orderly liquidation and return of client assets in the normal course," said Peter Sanderson, GAM's chief executive.

The move came a day after Credit Suisse said it was closing its supply chain finance funds linked to supply chain finance firm Greensill.