By Elliot Gulliver-Needham Swiss asset manager GAM has reported heavy losses in its annual results, after a tumultous year that saw its potential takeover by Liontrust crash and burn. Investors pulled billions from the embattled asset manager throughout the year, leading to lower revenues from fees for a company that was already in poor shape to begin with. Last year, British asset manager Liontrust proposed buying GAM, but after months of pushback from investor group Newgame, shareholders in the company rejected the deal by two to one. This left GAM in a state of crisis, as management had rep…