According to the group, at the end of September total AUM sat at CHF75.6bn up 8% from year-end 2013, helped by strong net new money inflows and the appreciation of the dollar against its reporting currency, the Swiss franc, which more than offset the poor performance of commodities and a challenging fixed income market.
GAM said that while client activity and demand “remained resilient” across its product range in the face of growing geopolitical and market concerns, the strongest inflows were into its “Julius Baer-branded European asset-backed securities strategy and the GAM-branded credit opportunities and cat bond strategies”.
The firm also reported an increase in inflows to its discretionary and advisory portfolios while net outflows were seen in the physical gold ETF.
According to RBC CApital Markets: "GAM is the most attractively priced of any asset manager that we cover, and it also holds the distinction of having surplus capital represent 20% of its market capitalisation—the most of any asset manager that we follow."
