GAM expects to report loss for 2020 following impairment charge
Net inflows into investment management in Q4 2020
GAM group CEO Peter Sanderson
Swiss asset management firm GAM expects to report a 2020 full-year net loss of CHF380m (£309.7m) as a result of the CHF377.7m (£307.9m) impairment charge announced in its first-half results, but recorded its first quarter of positive net inflows since 2018 in the fourth quarter.
In an update published today (18 January), GAM said it also expects to report an underlying pre-tax loss of approximately CHF15m (£12.2m), compared to a CHF10.5m (£8.6m) underlying profit for 2019, when...
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