GAM Investments

What GAM Investments does

GAM Investments is the trading name of GAM Holding AG, a publicly listed Swiss asset manager (SIX Swiss Exchange: GAM) headquartered in Zurich and operating across 15 countries. The firm delivers active investment management and wealth management services to institutional investors, high-net-worth individuals, family offices, charities, foundations, and wholesale intermediaries, organized around three pillars: Specialist Active Investing (equities, fixed income, multi-asset), Alternative Investing (catastrophe bonds, private markets, and other non-traditional strategies), and Wealth Management. As of 31 December 2025, GAM managed CHF 12.5 billion in assets, down sharply from historical levels above CHF 100 billion, and reported an IFRS net loss after tax of CHF 74.2 million for FY2025, narrowing losses versus the prior year on cost reduction measures but with continued AUM and revenue decline. The firm is recapitalizing via a CHF 100 million rights issue and refreshing senior leadership (new Group CFO Gerhard Lohmann effective March 2026, proposed new Chairman Anthony Maarek and Board appointments at the May 2026 AGM) as part of an active turnaround strategy. Governance remains a live issue: billionaire Xavier Niel is the main backer while minority shareholders holding approximately 2.5% of voting rights have filed complaints with Switzerland's Takeover Board alleging governance concerns.

GAM's go-to-market is sales-led, combining direct institutional and wealth-advisory coverage with third-party fund platform and intermediary distribution. Revenue is generated primarily through management fees calculated as a percentage of AUM, supplemented by performance fees on certain alternative strategies; pricing is negotiated bilaterally and not publicly disclosed. The product platform is supported by subsidiaries including GAM (U.K.) Limited and related UK entities, GAM Systematic (systematic strategies), and GAM Investments (Singapore) Pte. Ltd., with compliance programs spanning MiFID II, Swiss FIDLEG, UK FCA Consumer Duty, GDPR, and the UK Modern Slavery Act. Technology is not disclosed as a proprietary differentiator; GAM Systematic represents the firm's quantitative capability, but there is no evidence of an in-house AI/ML platform underpinning the active strategies.

Name

GAM Investments

Legal name

GAM Holding AG

Website

https://gam.com

Company type

Public

Founded year

1983

Operating status

Operating

Headcount range

251–500 employees

Short description

GAM Investments (GAM Holding AG) is a Zurich-based, SIX Swiss Exchange-listed active asset manager serving institutions, HNW clients, family offices, and charities across 15 countries, offering equities, fixed income, multi-asset, alternatives, and wealth management.

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

ESG Integration (Mainstream ESG-Tilted Strategies) (FSAAALAA)

akta.pro secondary industries

Multi-Asset ESG / Sustainable Allocation Strategies (FSAAAJAK), Sustainable/ESG Equity (Active) (FSAAAIAM), ESG Integration / Responsible Investment Funds (Broad ESG) (FSANAJAL), ESG/Sustainable Investment Advisory (FSAEAAAJ)

Keywords

• Asset management services
• Active investment management
• Alternative investments
• Wealth management advisory
• Institutional portfolio management

Headquarters

HQ city

Zürich

HQ country

Switzerland

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Asset Management Fees: GAM generates revenue primarily through management fees charged on assets under management (AUM). As a traditional asset manager, fees are typically calculated as a percentage of AUM and may include performance fees for certain strategies.
2. Performance Fees: The firm may also earn performance fees on certain alternative investment strategies where returns exceed specified benchmarks or hurdle rates.
3. Wealth Management Services: Revenue from providing wealth management services to private clients, family offices, charities, and foundations, including portfolio management and advisory services.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

GAM Investments is an independent global asset management firm that delivers active investment management solutions across equities, fixed income, multi-asset, and alternative strategies for institutional and private clients. The firm also offers dedicated wealth management services for high-net-worth individuals, family offices, charities, and foundations, managing CHF 12.5 billion in assets as at 31 December 2025 across 15 countries.

Product overview

GAM Investments is a global asset management firm offering a unified platform of investment management and wealth management services. The core offerings consist of Specialist Active Investing (encompassing Fixed Income, Equity, and Multi-Asset strategies), Alternative Investing (including cat bonds and private markets), and Wealth Management services for private clients, charities, foundations, and family offices. The firm manages CHF 12.5 billion in assets as of 31 December 2025 and operates across 15 countries. GAM also provides educational resources on various investment topics including Global Rates, Cat Bonds, Private Markets, Sports Investment, and Swiss Equities.

Differentiator

Problem solved

Functional benefit

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered notable.

• Swiss RenotableStrategic or Co-development PartnerGAM has established a partnership with Swiss Re for the GAM & Swiss Re ILS Webinar Series, providing educational content on Insurance-Linked Securities and catastrophe bonds. This collaboration positions GAM as a thought leader in the ILS space while leveraging Swiss Re's expertise as a leading reinsurer.
• Atlanticomnium SAnotableStrategic or Co-development PartnerAtlanticomnium SA is a partner firm where Jeremy Smouha, a founding member of GAM, played a pivotal role. GAM Investments and Atlanticomnium issued a joint statement following Jeremy Smouha's passing, indicating a close operational and personnel relationship between the two firms.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Man Group: London-listed, publicly traded active and alternative asset manager offering multi-asset, equities, and alternatives strategies globally. Closely comparable to GAM as a publicly listed, pure-play active manager with a strong alternatives (AHL quantitative, FRM) platform.
• Liontrust Asset Management: London-listed specialist active asset manager offering equity, fixed income, multi-asset, and sustainable strategies. Directly comparable given the overlap in active equity, multi-asset, and ESG capabilities targeted at UK and European intermediary channels.
• Ninety One: London- and South Africa-listed active asset manager with emerging-market equities, fixed income, multi-asset, and alternatives. Comparable as a publicly listed specialist active manager with multi-region distribution and overlapping capability set.
• Polar Capital: London-listed specialist active manager with focused equity and multi-asset capabilities. Comparable as a publicly listed boutique-style active manager competing in similar specialist niches.
• BlueCrest Capital Management: UK-based hedge fund and alternative asset manager returning capital externally to outside investors. Comparable as an alternative-focused active manager with overlap in systematic/quantitative strategies similar to GAM Systematic.
• Baillie Gifford: Edinburgh-based, partnership-owned specialist active manager renowned for global and thematic equities. Comparable to GAM as a high-conviction, specialist active equity manager serving institutional and intermediary clients.
• Jupiter Fund Management: UK-listed active asset manager focused on equities, fixed income, and multi-asset strategies for institutional and retail clients. Directly comparable as a publicly listed specialist active manager of similar scale and European orientation.

Broad incumbents

• Schroders: Large UK-listed asset manager offering active equities, fixed income, multi-asset, alternatives, and wealth management. Comparable as a much larger incumbent offering overlapping active and wealth capabilities, though broader in scale and product set.
• Aberdeen Group (abrdn): Global investment manager listed in London offering active equities, fixed income, multi-asset, and alternatives, plus wealth services. Comparable as a publicly listed broad-based active incumbent operating across similar institutional and wealth channels.
• Pictet Group: Swiss private bank and asset manager with deep active equity, fixed income, multi-asset, alternatives, and wealth management franchises. Comparable to GAM as a Swiss-domiciled private partnership offering similar specialist active and wealth capabilities, though much larger and partner-owned.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/GAMinsights
• LinkedInlinkedin.com/company/gam

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries7 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments6 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about GAM Investments