GAM expects to report an underlying pre-tax loss of approximately CHF 15 million in the first half of 2022.
This compares with a CHF 0.8 million profit in H1 2021.
The firm blamed the “volatile market environment” which led to a decline in assets under management (AUM). As a result, the firm anticipates there will be a reduction in the group’s expected IFRS results.
Total assets under management were CHF 83.2 billion as at 30 June 2022, a 16 percent decreas...
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