Switzerland’s GAM sees net loss of CHF 309.9 million for 2022

Written by Miroslav Marinov

Miroslav Marinov, a financial news editor at TradingPedia, is engaged with observing and reporting on the tendencies in the Foreign Exchange Market, as currently his focus is set on the major currencies of eight developed nations worldwide.

, | Updated: October 30, 2024

GAM said on Wednesday that it expected a net loss after tax of about CHF 309.9 million for the entire 2022 due to negative asset flows.

The Swiss asset manager also said it expected an underlying pre-tax loss of nearly CHF 42.8 million.

“2022 was a challenging year with our financial results seeing the impact from a market-led decline in our assets under management,” GAM’s chairman David Jacob was quoted as saying by Reuters.

GAM, which has 594 full-time employees and offices in Zurich, Geneva and London, is to report full-year 2022 results on April 25th.

The shares of GAM Holding AG (GAMH) were last down 3.45% (CHF 0.0340) on the day to trade at CHF 0.9510 on the SIX Swiss Exchange.

The asset manager’s total market cap now stands at CHF 151.55 million.

The shares of GAM Holding AG went down 30.88% in 2022, following another 37.15% loss in the prior year.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

EUR/GBP Holds Below Key Ceiling as Bullish Momentum Fades Key Moments: EUR/GBP traded near 0.8720 after rebounding from support at 0.8700, having gained nearly 1% over the last three weeks. Technical signals point to softening upside momentum, with MACD slipping below zero even as RSI […]
How Canadian Employment Fluctuation Influences The USDCAD Rate Employment change is one of the most certain indicators which can be used to determine the movement of currency couples. In this case we are talking about the USD/CAD couple which is greatly influenced by the Unemployment Rate and Employment […]
Brent Holds Above $90 as Hormuz Risks Tighten Supply Outlook Key Moments ICE Brent briefly traded above US$90/bbl in early Asian hours after US strikes on Iranian targets raised fresh concerns over Persian Gulf supply routes. ING estimates that about 5m b/d of crude transit the Strait of […]
Apple tests key technical level ahead of Q4 earnings Key Moments Morgan Stanley trimmed its AAPL price target from $360 to $355 while reiterating an Overweight rating, following a strong six-month run in the shares. AAPL is trading below key short- and medium-term moving […]
India’s foreign exchange reserves continue to ease India’s foreign exchange reserves have continued to ease from the record high of $704.9 billion registered in the last week of September.Foreign exchange reserves held by the Reserve Bank of India decreased to $688 billion as of October […]
Boohoo shares surge as retailer acquires Oasis and Warehouse Shares in Boohoo surged in Wednesday trading after it announced its intention to acquire the fashion brands Oasis and Warehouse. The online fashion company’s stock rose 10% in early trading hours, marking a record high of 433.50 […]

Related News