Wednesday, August 1, 2012
GAM completes acquisition of Arkos Capital SA
On 31 July 2012 GAM completed the acquisition of 74.95% of Arkos Capital SA announced on 28 February and closed agreements with the management of Arkos for the future purchase of the remaining 25.05%.
It is expected that by year-end all of Arkos’s funds will be distributed under the GAM brand. The management of all investment strategies will remain unchanged: the investment team will be fully retained and will continue to operate from its current base in Lugano, Switzerland.
Zurich/London, 2 August 2012: GAM Group AG (GAM), a wholly owned subsidiary of GAM Holding AG, completed its acquisition of 74.95 % of Arkos Capital SA (Arkos) on 31 July 2012 and closed agreements with the management of Arkos for the future purchase of the remaining 25.05%. The transaction was approved by the Swiss Financial Market Supervisory Authority (FINMA). No significant integration costs are anticipated.
As at 30 June 2012, Arkos had assets under management of CHF 729 million (compared to CHF 664 million as at 31 December 2011). Its range of low-volatility absolute return funds – offshore and onshore – includes long/short equity strategies covering Europe and emerging markets, as well as a specialist offering focusing on financial securities and an active convertible bond strategy.