Assets under management within GAM's discretionary and advisory portfolios increased for the first time in six years in the first half of 2014, the group has said.
Reporting interim results for the six months to 30 June, GAM said the change reflects the “growing success” of the discretionary service it launched in 2012. That launch saw the group hire Charles Hepworth (pictured) from Quilter to help start the new business. GAM today also highlighted the beneficial impact of the model portfolio service launched in 2013 by Hepworth and his team. The Swiss firm said inflows into its risk-rated model portfolios had offset historic outflows, helping drive a turnaround in AUM. “Assets in discretionary and advisory portfolios […] grew during the repo...
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