^24. April 2023
MEDIA RELEASE
Ad hoc announcement according to Art. 53 Listing Rules:
GAM Holding AG announces an update on the full year results 2022, published
Interim Management Statement for Q1 2023 and gives new date for
the
Release of 2022 annual report announced
* As previously announced, GAM is in advanced discussions
about strategic options for the company.
* This includes the talks with the British wealth manager
Liontrust Asset Management Plc to merge the two companies.
* The talks are aimed at the company being in everyone’s best interest
Position stakeholders strategically.
* Another announcement will be made upon successful completion, which we
Expect by May 4th at the latest.
* To identify the business-relevant aspects as part of the strategic review
to be completed in a target-oriented manner and the preparation of the annual report
finalize, the publication of the annual report 2022 will be shortly
postponed to May 4, 2023.
* Update on the annual results 2022:
* Total assets under management as of December 31, 2022
CHF 75.0 billion, of which CHF 23.2 billion in investments
Management and CHF 51.8 billion in Fund Management Services.
* In 2022, negative market movements and exchange rate effects were in
Amount of CHF 15.2 billion for more than 60% of the overall decline in
managed assets responsible.
* There were outflows in the Investment Management division in the 2022 financial year
of client funds of CHF 2.6 billion – in absolute and
on a relative basis, these were the lowest since 2018.
* There were net outflows of in Fund Management Services
Client funds of CHF 6.0 billion, partly due to the
last tranche of a client in the amount of CHF 2.5 billion
was due to do business in January 2021
announced broader strategic partnership to another
provider has shifted.
* Good investment performance in the 2022 financial year:
* 55% of assets under management in Investment Management
developed over a period of three as at 31 December
years better than their benchmark.
* 66% and 67% of Morningstar-tracked assets under management by
GAM outperformed their respective over three and five years
comparison groups, compared with 70% and 62% per
December 31, 2021.
* Over a three-year period, 7 of the 13 greatest scored
Strategies one top decile performance and two more of those
strategies a top quintile performance.
* As previously announced on January 25, 2023, the Group expects for the
Full-year 2022 adjusted loss before tax of around CHF 42.8
million and an IFRS net loss after tax of approximately CHF 309.9
Millions.
* Interim report for the first quarter of 2023:
* As of March 31, 2023, assets under management increased to
CHF 23.3 billion in Investment Management on net outflows of
Client deposits of CHF 0.6 billion and positive market and
Exchange rate movements of CHF 0.7 billion compared to
total CHF 23.2 billion as of December 31, 2022.
* Assets under management of CHF 48.4 billion in Funds
Management Services on net outflows of client funds of
CHF 4.7 billion and overall positive net market and
Exchange rate movements of CHF 1.3 billion compared to
total CHF 51.8 billion as of December 31, 2022.
The presentation of the 2022 annual results of GAM Holding AG for analysts,
Investors and media will now be informed on May 4, 2023 at 10:00 a.m. (CET) via Webex
take place.
Upcoming dates:
May 4, 2023 Publication of the annual report and presentation
of the annual results for 2023
May 25, 2023 Ordinary General Assembly
August 3, 2023 Half Year Results 2023
For further information:
Charles Naylor
Head of Communications and Investor Relations
T +44 7890 386 699
Media Relations
Ute Dehn Christen
T +41 58 426 31 36
Visit us at: www.gam.com
Follow us on: Twitter and LinkedIn
About GAM
We are an active and independent global wealth manager that has
Thinks beyond the obvious to make our customers distinctive and
to offer differentiated investment solutions across our three core businesses:
investment management, wealth management and fund management services.
Our goal is to protect and protect the financial future of our customers
improve. We attract and empower the brightest minds, a
Leading investment, innovating and
positively impacting society and the environment.
As a service provider for institutions, financial intermediaries and private investors
we manage assets of CHF 75.0 billion.
Headquartered in Zurich, GAM Investments is listed on the SIX Swiss Exchange under the
Symbol «GAM» listed on the stock exchange and employs 541 full-time employees in
14 countries with investment centers in London, Cambridge, Zurich, Hong Kong, New
York and Milan (as of December 31, 2022). Our operational centers are located
located in Dublin, Luxembourg and London.
Disclaimer Regarding Forward-Looking Statements
This media release from GAM Holding AG (“the Company”) includes
Forward-looking statements that reflect intentions, beliefs or current
Society’s expectations and projections about its future
business results, financial condition, liquidity, performance, prospects,
strategies, opportunities and the business environment in which they operate
moved, reflect. Forward-looking statements cover all events that
do not represent historical facts. Society has tried this
Statements made by using words such as “could”, “will”, “should”,
«expects», «intends», «estimates», «anticipates», «believes», «attempts»,
“plans”, “forecast” and similar terms. Such
Statements are made based on estimates and expectations that
may turn out to be wrong, even though society has them at the present time
timing deemed appropriate.
These forward-looking statements are subject to risks, uncertainties, assumptions
and other factors that could cause the actual
results of operations, financial condition, liquidity, performance, prospects and
Possibilities of society and the markets that society serves
or intends to operate, materially from these forward-looking statements
statements differ. Important factors that lead to such deviations
may include: changes in the business or market environment,
legislative, fiscal or regulatory developments, the general
economic situation and the possibilities of society on developments
to respond in the financial services industry. Additional factors can
actual results, performance or achievements are material
influence. The company expressly assumes no obligation and
Also does not intend to provide updates or corrections to any in
forward-looking statements contained in this media release
or changes in the Company’s expectations or changes in
events, conditions and circumstances upon which these forward-looking statements are based
Statements are based, to the extent not required by applicable law or
regulatory provisions is required.
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