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GAM Holding AG (GAMH.S)

GAMH.S on Swiss Exchange

4.05CHF
23 May 2019
Change (% chg)

CHF-0.10 (-2.50%)
Prev Close
CHF4.16
Open
CHF4.11
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CHF3.96
Volume
1,022,094
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1,001,153
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CHF16.00
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CHF2.76

Latest Key Developments (Source: Significant Developments)

GAM Holding Group AUM At CHF 137.4 Bln At 31 March 2019
Wednesday, 17 Apr 2019 

April 17 (Reuters) - GAM Holding AG ::GROUP ASSETS UNDER MANAGEMENT (AUM), INCLUDING INVESTMENT MANAGEMENT AND PRIVATE LABELLING, OF CHF 137.4 BILLION(1) AT 31 MARCH 2019.COMPLETION OF ARBF LIQUIDATION EXPECTED BY MID-JULY 2019.WELL ON TRACK TO ACHIEVE CHF 40 MILLION COST SAVINGS BY END OF 2019.REITERATES EXPECTATION THAT FINANCIAL PERFORMANCE FOR FIRST HALF OF 2019 WILL BE MATERIALLY BELOW FIRST HALF OF 2018.  Full Article

GAM Holding Nominates Three New Members To Board Of Directors
Thursday, 4 Apr 2019 

April 4 (Reuters) - GAM HOLDING AG ::NOMINATES THREE NEW MEMBERS TO ITS BOARD OF DIRECTORS.HUGH SCOTT-BARRETT IS PROPOSED FOR RE-ELECTION AS CHAIRMAN.  Full Article

GAM Holding Says AUM In Investment Management Down At CHF 56.1 Bln
Thursday, 21 Feb 2019 

Feb 21 (Reuters) - GAM Holding AG ::ASSETS UNDER MANAGEMENT (AUM) IN INVESTMENT MANAGEMENT DOWN TO CHF 56.1 BILLION(1) AS AT 31 DECEMBER 2018.UNDERLYING PROFIT BEFORE TAXES OF CHF 126.7 MILLION IN 2018, COMPARED TO CHF 172.5 MILLION IN 2017.IFRS NET LOSS OF CHF 929.1 MILLION IN 2018.FOR 2019 AND BEYOND, GAM WILL TARGET A MINIMUM DIVIDEND PAY-OUT OF 50% OF UNDERLYING NET PROFITS.RECONFIRMING FINANCIAL OUTLOOK ANNOUNCED IN DECEMBER 2018.FOLLOWING CONCLUSION OF INVESTIGATION AND DISCIPLINARY PROCEEDINGS, SUSPENDED INVESTMENT DIRECTOR HAS NOW BEEN DISMISSED FROM COMPANY FOR GROSS MISCONDUCT.RESTRUCTURING ANNOUNCED IN DECEMBER 2018 IS UNDERWAY..EXPECTS TO ACHIEVE A REDUCTION IN FIXED PERSONNEL AND GENERAL EXPENSES OF AT LEAST CHF 40 MILLION BY END OF 2019.REDUCTION IN FIXED PERSONNEL AND GENERAL EXPENSES: ONE THIRD OF SAVINGS TO BE REFLECTED IN 2019 AND FULL BENEFIT IN 2020.SUSPENDED ITS MID- TO LONG-TERM FINANCIAL TARGETS.2019 WILL PROVE A CHALLENGING YEAR.ALONG WITH NORMAL FLOW DYNAMICS, DAILY FLOW POSITION HAS IMPROVED IN FIRST WEEKS OF 2019 COMPARED TO DECEMBER 2018, BUT INSTITUTIONAL FLOWS REMAIN UNPREDICTABLE.FOR 2018 FINANCIAL YEAR, BOARD OF DIRECTORS WILL PROPOSE TOTAL VARIABLE COMPENSATION OF CHF 5.6 MILLION FOR GROUP MANAGEMENT BOARD, DOWN 59% COMPARED TO 2017.NO VARIABLE COMPENSATION WILL BE PAID TO FORMER GROUP CEO FOR 2018.NO ANNUAL BONUS WOULD BE AWARDED TO GROUP CFO FOR 2018 PERFORMANCE YEAR.  Full Article

GAM Holding Revises 2018 Results, Announces Comprehensive Restructuring Programme And Proposes Suspension Of 2018 Dividend
Thursday, 13 Dec 2018 

Dec 13 (Reuters) - GAM HOLDING AG ::PROVIDES AN ESTIMATE ON ITS 2018 RESULTS AND ANNOUNCES A COMPREHENSIVE RESTRUCTURING PROGRAMME AS WELL AS A PROPOSED SUSPENSION OF THE 2018 DIVIDEND.UNDERLYING PROFIT BEFORE TAXES FOR 2018 EXPECTED TO BE APPROXIMATELY CHF 125 MILLION COMPARED WITH CHF 172.5 IN 2017.ESTIMATED IFRS NET LOSS OF APPROXIMATELY CHF 925 MILLION FOR 2018.LOSS DRIVEN BY EXPECTED GOODWILL IMPAIRMENT CHARGE FOR GROUP OF APPROXIMATELY CHF 885 MILLION.APPROXIMATELY 10% OF ROLES BEING ELIMINATED ACROSS GROUP DURING 2019, SUBJECT TO LEGAL AND REGULATORY REQUIREMENTS.LOSS ALSO DRIVEN BY EXPECTED IMPAIRMENT CHARGE OF APPROXIMATELY CHF 62 MILLION IN SECOND HALF 2018 RELATED TO CANTAB INVESTMENT MANAGEMENT AND CLIENT CONTRACTS.REVISING DIVIDEND POLICY FOR 2019 AND BEYOND TO TARGET A MINIMUM PAY-OUT OF 50% OF UNDERLYING NET PROFITS.GAM - RESTRUCTURING MEASURES ARE EXPECTED TO RESULT IN REDUCTION OF FIXED STAFF COSTS AND GENERAL EXPENSES RUN RATE OF AT LEAST CHF 40 MILLION BY END 2019.EXPECTS FINANCIAL RESULTS FOR FIRST HALF AND FULL YEAR 2019 TO BE MATERIALLY BELOW THOSE OF FIRST HALF AND FULL YEAR 2018.NO DIVIDEND WILL BE PAID FOR 2018 TO ACCELERATE GROUP'S CAPITAL REBUILD.GROUP ASSETS UNDER MANAGEMENT(1) (AUM) OF CHF 139.1 BILLION AT 30 NOVEMBER 2018, DOWN FROM CHF 146.1 BILLION AS AT 30 SEPTEMBER 2018.ASSETS UNDER MANAGEMENT DRIVEN BY NET OUTFLOWS OF CHF 4.2 BILLION AND NEGATIVE MARKET AND FOREIGN EXCHANGE MOVEMENTS OF CHF 1.6 BILLION.  Full Article

GAM Holding Announces Changes To Group Management Board
Friday, 28 Sep 2018 

Sept 28 (Reuters) - GAM Holding AG ::ANNOUNCES CHANGES TO THE GROUP MANAGEMENT BOARD.MATTHEW BEESLEY WILL TAKE UP POSITION OF GROUP HEAD OF INVESTMENTS.NATALIE BAYLIS HAS DECIDED TO STEP DOWN FROM HER ROLE FOR PERSONAL REASONS AND WILL LEAVE GAM AT END OF OCTOBER 2018.DAVID KEMP WILL JOIN GAM ON 1 OCTOBER 2018 AS INTERIM GROUP HEAD OF COMPLIANCE.MATTHEW BEESLEY TO BECOME HEAD OF INVESTMENTS.NATALIE BAYLIS, WHO JOINED GAM AND GMB AS GROUP HEAD OF COMPLIANCE IN JUNE 2018, HAS DECIDED TO STEP DOWN FROM HER ROLE FOR PERSONAL REASONS.  Full Article

GAM Holding Outlines Liquidation Plan For Unconstrained/Absolute Return Bond Funds
Tuesday, 28 Aug 2018 

Aug 28 (Reuters) - GAM Holding AG ::OUTLINES LIQUIDATION PLAN FOR UNCONSTRAINED/ABSOLUTE RETURN BOND FUNDS.GAM INVESTMENTS ANNOUNCED TODAY THAT SUSPENDED UNCONSTRAINED/ABSOLUTE RETURN BOND FUNDS (ARBF) HAVE OBTAINED APPLICABLE APPROVALS TO START LIQUIDATION PROCESS.ALL FUND INVESTORS WILL RECEIVE THEIR PROPORTIONATE INTEREST IN CASH FROM LIQUIDATION PROCESS.EACH FUND EXPECTS TO BE ABLE TO MAKE FIRST PAYMENTS IN EARLY SEPTEMBER.ALSO EXPECTS TO OFFER ALTERNATIVE STRUCTURES FOR INVESTORS WHO WANT TO REMAIN INVESTED WITH ARBF TEAM.GAM HOLDING - UCITS FUND IS EXPECTED TO BE AVAILABLE FOR INVESTORS IN COMING WEEKS, AND COMPANY IS SETTING UP A NEW CAYMAN FUND AS WELL.GAM SAYS EACH FUND RETURNING BETWEEN 74% AND 87% OF THE LUXEMBOURG AND IRISH-DOMICILED UCITS FUNDS, AND BETWEEN 60% AND 66% OF THE ASSETS IN THE CAYMAN MASTER FUND.  Full Article

GAM Holding H1 IFRS Net Profit Down 62 Pct To CHF 25.4 Million
Tuesday, 31 Jul 2018 

July 31 (Reuters) - GAM Holding AG ::H1 IFRS NET PROFIT DECLINED 62% TO CHF 25.4 MILLION.H1 2018 UNDERLYING PRE-TAX PROFIT UP 21% TO CHF 91.3 MILLION.H1 NET FEE AND COMMISSION INCOME UP 12% TO CHF 287.7 MILLION.H1 UNDERLYING PROFIT BEFORE TAXES ROSE 21% TO CHF 91.3 MILLION.COMMITTED TO ACHIEVING GROWTH IN DILUTED UNDERLYING EARNINGS PER SHARE IN EXCESS OF 10% ON AN ANNUALISED BASIS AND AN OPERATING MARGIN OF 35-40%, BOTH OVER FIVE TO EIGHT-YEAR BUSINESS CYCLE.  Full Article

GAM Holding Sees H1 IFRS Net Profit Of Around CHF 25 Mln
Friday, 13 Jul 2018 

July 13 (Reuters) - GAM HOLDING AG ::SEES H1 UNDERLYING PROFIT BEFORE TAXES, WHICH EXCLUDES NON-RECURRING AND ACQUISITION-RELATED ITEMS, OF AROUND CHF 91 MILLION.SEES H1 IFRS NET PROFIT OF APPROXIMATELY CHF 25 MILLION, COMPARED WITH CHF 67.7 MILLION IN FIRST HALF OF 2017.  Full Article

GAM Holding Q1 Group Net Inflows Of CHF 6.0 Billion
Thursday, 19 Apr 2018 

April 19 (Reuters) - GAM Holding AG ::REPORTS Q1 GROUP NET INFLOWS OF CHF 6.0 BILLION.CONTINUES TO SEE GOOD DEMAND FOR ITS PRODUCTS.  Full Article

GAM Holding Announces New Compensation Framework
Wednesday, 20 Dec 2017 

Dec 20 (Reuters) - GAM HOLDING AG ::GAM HOLDING AG ANNOUNCES NEW COMPENSATION FRAMEWORK.  Full Article

Fund firm GAM excludes sacked fund manager from AGM

ZURICH GAM Holding AG blocked Tim Haywood, the fund manager sacked for misconduct last year in a scandal that prompted a collapse in the Swiss firm's share price, from attending its annual shareholder meeting on Wednesday.