Swiss asset management firm GAM expects a net loss of CHF400m (£339m) for H1 2020 as the firm has been forced to book a CHF410m (£348m) non-cash impairment, which was the result of goodwill payments related to its acquisitions of UBS in 1999 and Julius Baer 2005.
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
