Asset management firm GAM Holding’s assets under management (AuM) stood at CHF116.6 billion (US$125.6 billion) for the six months ended 30 June 2013, an increase of 5% compared to CHF111.1 billion (US$119.7 billion) for the same period of 2012.
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The firm has reported an underlying net profit of CHF111.7 million, a 58% increase compared to CHF70.5 million for the first half of 2012. The group’s operating income was increased by 27% to CHF357.4 million from CHF280.8 million in the same period a year earlier.
GAM Holding’s operating expenses were CHF 231.2 million for the first half of 2013, a 20% increase compared to CHF193.4 million for the corresponding period a year ago.
David Solo, group CEO of GAM Holding, said: "We are firmly convinced that, against the persistent backdrop of slow economic growth, negative real yields and highly volatile equity markets, active management will prove its value. Clients cannot rely on ‘easy’ solutions to grow or safeguard their wealth."
