Reports
GAM Reports AuM Rise, Helped By Inflows
The Zurich-listed investment house reported a gain in AuM for the first quarter.
GAM
Investments, the Swiss-listed firm, yesterday reported that
group assets under management rose to SFr162.3 billion ($167.7
billion) on 31 March from SFR158.7 billion as at the end of last
year.
The firm reported net inflows of SFr2.5 billion, with inflows
across a broad range of funds, in particular into specialist
fixed income and systematic strategies
Within GAM’s investments business, AuM stood at SFr85.7 billion,
up from SFr84.4 billion as at 31 December 2017, driven by strong
net inflows, partly offset by negative market and foreign
exchange movements, it said.
On the private labelling business of GAM, there were net inflows
of SFr3.5 billion; AuM stood at SFr76.6 billion, up from SFr74.3
billion as at 31 December 2017.
"We continue to see good demand for specialised products that
offer diversification versus traditional asset classes and broad
market trends. Nevertheless, market volatility has increased
noticeably over the last few months, which may lead clients to
become more cautious," group chief executive Alexander Friedman
said.
