Provides update in relation to a fund management services client; Client to move CHF10.5B from GAM to in house
- Provides an update in relation to a Fund Management Services client, who has given notice that they will be moving a part of their business with GAM Fund Management Services in house, starting in Q2 2023.
- As at 31 December 2021, the relevant assets under management were CHF 11.5 billion with associated revenues of approximately CHF 6 million per annum, representing less than 3% of GAM’s net fee and commission income for the full year 2021. The client will be moving approximately CHF 10.5 billion of funds to their existing management services company from April 2023. Approximately CHF 1 billion of assets under management will remain with GAM Fund Management Services.
- The GAM Fund Management Services business provides fund solutions focused on structuring, legal set-up, fund administration arrangements and management company services. These services allow our clients to focus on asset management and fund distribution for their clients. GAM Fund Management Services has a strong pipeline of future business opportunities.