GAM announced further net losses and reductions in assets under management in 2023 after a year that saw no shortage of incidents.
The Swiss group published a special report this morning (March 27) showing that losses after tax for the 2023 financial year amounted to CHF 82.1 million, down from CHF 290 million a year earlier. At the same time, losses before taxes amounted to 49.5 million Swiss francs, compared to 42.5 million Swiss francs in 2022.
In addition, the company ended the full year with assets under management of CHF 3.9 billion compared to a year earlier, and the December 2023 figure stood at CHF 19.3 billion.