GAM's services business loses £8.5bn mandate

'Strong pipeline'

clock • 1 min read

GAM’s fund management services arm has lost a 10.5bn Swiss franc (£8.6bn) mandate, following a decision by its client to take the assets in-house.

According to GAM, the unnamed client has around CHF 11.5bn allocated to it, garnering associated revenues of around CHF 6m per year, which represents less than 3% of the fund manager's net fee and commission income for 2021. Following the announcement on Wednesday (30 March), the client will bring the CHF 10.5bn in assets in house to be managed by their existing management services firm from April next year. GAM AUM drops £17.5bn in 2021 forcing targets review Around CHF 1bn of assets will continue to be managed by GAM Fund Management Services. GAM claimed that its management ar...

To continue reading this article...

Join Investment Week for free

  • 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

Join now

 

Already an Investment Week
member?

Login

Trustpilot