Operating costs fell by 17 percent to SFr47.8 million, a reduction that drove the narrowing of the firm's deficit. Beyond the balance sheet, the investment manager saw SFr900 million in net inflows, supported by resilient demand for alternative investment products and improved client retention. Assets under management rose to SFr12.7 billion as of June 30, edging up from the SFr12.5 billion reported at the close of 2025.
GAM Cuts Losses as Restructuring Gains Traction
Zurich-based investment house GAM reported an underlying pre-tax loss of SFr24 million for the first half of 2026, marking a 30 percent improvement over the previous year as aggressive cost-cutting measures and a modest recovery in assets under management began to stabilize the firm's balance sheet.
The firm continues to lean on external financial support to navigate its long-term turnaround. GAM has utilized SFr58 million of its SFr100 million loan facility provided by Rock Investment SAS, a subsidiary of NJJ. This credit line remains accessible through December 2027, with the lender having issued a letter of intent to provide additional capital if necessary. Group CEO Albert Saporta credited these results to strategic shifts implemented over the last two years, which he noted are finally yielding tangible improvements in commercial performance following years of volatility sparked by the 2018 misconduct scandal.
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