Swiss money manager GAM Holding has said that its group assets under management (AuM) stood at CHF148.4bn at the end of September 2017, an increase of 13% from 30 June 2017.
The company’s overall net inflows for the three-month period to 30 September 2017 were CHF11.8bn.
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AuM at the group’s investment management unit totalled CHF78.7bn, a 9% increase compared to 30 June 2017. The company attributed the rise to strong net inflows, positive investment performance and foreign exchange movements. The division’s net outflows stood at CHF3.5bn.
Assets under management in the group’s private labelling arm were CHF69.7bn, an 18% surge from 30 June 2017. The company said that the rise was driven by strong net inflows. Net inflows at the private unit were CHF8.3bn.
GAM Holding CEO Alexander Friedman said: “I am pleased with our continued momentum in the third quarter: the investment performance for the vast majority of our funds was strong, our net inflows were very good, and we remain on track with our strategic initiatives. We continue to see healthy client interest for our products, although we do not expect the pace of third-quarter inflows to be consistently maintained.”
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