15 July 2021
Ad hoc announcement pursuant to Art. 53 listing rules: GAM Holding AG – update on half year 2021 results
In accordance with its obligations under the listing rules of the SIX Swiss Exchange (article 53), GAM Holding AG is providing an update in relation to the Group’s expected results for the half year ended 30 June 2021.
The Group expects to report an IFRS net loss after tax of approximately CHF 3 million for the half year of 2021. This compares to the IFRS net loss after tax of CHF 390.1 million for the half year 2020.
The Group also expects to report an underlying profit before tax of approximately CHF 1 million. This compares to a CHF 2.0 million underlying loss before tax for the half year 2020.
GAM will announce its 2021 half year results on 4 August 2021.
Upcoming events:
| 4 August 2021 | Half-year results 2021 |
| 21 October 2021 | Q3 2021 Interim management statement |
For further information please contact:
| Charles Naylor Global Head of Communications and Investor Relations T +44 20 7917 2241 |
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| Investor Relations Jessica Grassi T +41 58 426 31 37 |
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| Media Relations Ute Dehn Christen T+41 58 426 31 36 |
Media Relations Kathryn Jacques T +44 20 7393 8699 |
Visit us at: www.gam.com
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About GAM
GAM is a leading independent, pure-play asset manager. The company provides active investment solutions and products for institutions, financial intermediaries and private investors. The core investment business is complemented by private labelling services, which include management company and other support services to third-party asset managers. GAM employed 701 FTEs in 14 countries with investment centres in London, Cambridge, Zurich, Hong Kong, New York, Milan and Lugano as at 31 December 2020. The investment managers are supported by an extensive global distribution network. Headquartered in Zurich, GAM is listed on the SIX Swiss Exchange with the symbol ‘GAM’. The Group has AuM of CHF 124.5 billion (USD 132.3 billion) as at 31 March 2021.
Disclaimer regarding forward-looking statements
This press release by GAM Holding AG (‘the Company’) includes forward-looking statements that reflect the Company’s intentions, beliefs or current expectations and projections about the Company’s future results of operations, financial condition, liquidity, performance, prospects, strategies, opportunities and the industry in which it operates. Forward-looking statements involve all matters that are not historical facts. The Company has tried to identify those forward-looking statements by using words such as ‘may’, ‘will’, ‘would’, ‘should’, ‘expect’, ‘intend’, ‘estimate’, ‘anticipate’, ‘project’, ‘believe’, ‘seek’, ‘plan’, ‘predict’, ‘continue’ and similar expressions. Such statements are made on the basis of assumptions and expectations which, although the Company believes them to be reasonable at this time, may prove to be erroneous.
These forward-looking statements are subject to risks, uncertainties, assumptions and other factors that could cause the Company’s actual results of operations, financial condition, liquidity, performance, prospects or opportunities, as well as those of the markets it serves or intends to serve, to differ materially from those expressed in, or suggested by, these forward-looking statements. Important factors that could cause those differences include, but are not limited to: changing business or other market conditions, legislative, fiscal and regulatory developments, general economic conditions, and the Company’s ability to respond to trends in the financial services industry. Additional factors could cause actual results, performance or achievements to differ materially. The Company expressly disclaims any obligation or undertaking to release any update of, or revisions to, any forward-looking statements in this press release and any change in the Company’s expectations or any change in events, conditions or circumstances on which these forward-looking statements are based, except as required by applicable law or regulation.