GAM Outflows Slow, Recovery Predicted

Apr 2 2009 | 7:32am ET

GAM has become the latest hedge fund manager to report a dramatic decrease in redemptions, with the Julius Baer hedge fund arm predicting that outflows should end by the second half of this year.

Julius Baer CFO Dieter Enkelmann told the Morgan Stanley European Financials Conference in London that GAM’s withdrawals slowed substantially in the first quarter, as compared to the fourth quarter of last year. What’s more, the firm expects its assets under management to not only stabilize in the second half, but to begin to recover.

GAM’s assets under management fell by almost than half last year. Assets sank to US$39.2 billion at the end of December; GAM managed US$75.8 billion at the beginning of 2008.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Versum Materials (VSM), with a market capitalization of $2.7 billion, enables chipmakers to achieve higher performance at lower cost with enhanced reliability. Versum is a leading global provider of electronic materials for the integrated circuit and flat-panel display markets.