Assets continue to shrink at GAM

Outflows and market moves

Assets under management at GAM have continued to fall, with the group’s AUM down a further 10.3% over the past quarter, according to its interim statement.

Group assets have fallen from CHF 83.2bn to CHF 74.6 over the past three months as both net outflows and negative market performance contributes to a negative picture. The investment management business shrunk 10.7% over the quarter, with money flowing out of every capability. Net client outflows totalled CHF 1bn for the period while market and foreign exchange movements dented AUM by a further CHF 1.7bn. GAM assets fall a further CHF 16.7bn in H1 The group's fund management services also tumbled over the period, down CHF 5.7bn from June 2022. Group CEO Peter Sanderson said:...