Net profit: CHF 123.2 million (-8.3% year-on-year)
Assets under management: CHF 158.7 billion (+31.5% year-on-year)
GAM saw profits drop for a fourth year in a row to CHF 123.2 million, its lowest since 2012, when it sat at CHF 88.4 billion. This was somewhat countered by a 31.5% rise in assets under management, bringing the total to CHF 158.7 billion. Operating income also increased by 14% to CHF 3.2 million
Net inflows in investment management rose CHF 8.6 million, which marks the highest level since the company's independent listing in 2009. GAM also saw 77% of strategies outperform benchmarks.
Commenting on the results, GAM's chairman Hugh Scott-Barrett and CEO Alexander Friedman wrote: 'We are pleased with the financial results achieved in 2017, but recognise there is still a lot to do. Further improvements in operating efficiency are crucial to unlocking GAM’s full potential.'