GAM Shares Slump After Investors Withdraw $5.8 BillionBy
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.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.