Friday, 29 May 2015
Last updated 18 hours ago
Oct 23 2012 | 1:21pm ET
GAM Holding said that assets rose in the third quarter in spite of continued difficulties with its most important business line, funds of hedge funds.
The Swiss firm said its assets increased 5.1% to 116.8 billion Swiss francs (US$126 billion) in the quarter, thanks to inflows, fund performance and its acquisition of a majority stake in Arkos Capital.
But its funds of funds continued to disappoint, suffering outflows that were offset by the good news. Still, it sought to offer a silver lining even on that front, noting that redemption pressure by clients at its former parents, Julius Baer and UBS, were slowing.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…