GAM Shares Slump After Investors Withdraw $5.8 Billion

  • Swiss asset manager’s funds had outflows in the first half
  • CEO says market turmoil continues to impact client sentiment

GAM Holding AG, the Swiss asset manager reorganizing under Chief Executive Officer Alex Friedman, said first-half profit fell 34 percent after fees based on the performance of its investment funds plunged. The shares slumped.

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