Zurich-based money manager GAM Holding has reported total assets under management (AuM) across investment management and private labelling of CHF116.6 billion in the third quarter ended 30 June 2013, as against the same figures in corresponding period in 2012.
The constant AuM was mainly driven by the weakening of the US dollar by almost 5% against the Group’s Swiss franc reporting currency offset the significant rebound in market performance in Q3.
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Investment management AuM remained unchanged at CHF72.1 billion during both the quarters of 2012 and 2013.
Similarly, the company reported private labelling AuM of CHF44.5 billion in Q3 2013, which remained flat as against the comparable period in 2012.
The constant asset levels were mainly due to positive market performance, which was offset by currency movements and net new money outflows.
Tangible equity was CHF518.4 million in the month ended 30 September 2013, up 9% or CHF 41.7 million, compared to the month ended 30 June 2013.
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By GlobalDataThe increase in tangible equity was primarily due to continued levels of robust profitability across the group’s businesses and a decline in its share buy-backs over the second trading line.
