An investor group made up of NewGAMe SA and Bruellan, with an approximately 8.4% collective stake in GAM, has raised concerns to the Swiss Takeover Board over Liontrust Asset Management's proposed acquisition of GAM. The group is concerned about the proposed deal's timetable and various exemptions Liontrust has been granted, which it believes could disadvantage GAM shareholders. Liontrust agreed to buy GAM for CHF 107m (£96m) last week, offering 0.06 shares of Liontrust per GAM share.