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Saturday, 21 January 2017
Last updated 1 day ago
May 13 2009 | 10:01am ET
Things are getting better at GAM. Or, at least, they are getting worse much, much slower.
Julius Baer, the fund of hedge funds’ parent, said this week that outflows from GAM have “slowed significantly.” The firm did not provide any numbers to back up its assertion, although analysts estimate that the decline in assets could have been as low as 4 billion Swiss francs, down from about 40 billion francs last year.
The news was not all good for Baer: The firm’s flagship private banking business saw inflows slow after posting a strong 2008.