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GAM is a global asset management firm. GAM’s purpose is to protect and enhance our clients’ financial future.

Our Thinking

Investment Opinions
Late Cycle Reckoning: Credit, the AI capex boom/bust cycle and the perfect set-up for a global secular equity bear market
29 October 2026 | Albert Saporta

Executive summary: everything overvalued (absolute), everything cheap (relative to US and tech)

Multi Asset Views
The US mid-terms might matter…a bit
28 October 2026 | Julian Howard

American politics remain deeply polarised, with the cultural divisions characterising the 2024 presidential election showing no sign of abating.

Investment Opinions
Q3 Multi-Asset Perspectives: Tightening not frightening
15 October 2026 | Julian Howard

The third quarter of 2026 saw a more subdued return from global markets compared to the second quarter, with the MSCI AC World Index delivering +1.3% in local currency terms.

Investment Opinions
Surprisingly Predictable: 25 Years of Catastrophe Bond Returns
12 October 2026 | Dr Rom Aviv

Natural catastrophes are unpredictable. However, the behaviour of the asset class of financial instruments that cover natural catastrophe risk - catastrophe bonds (cat bonds) - has historically exhibited a notably consistent pattern. That apparent contradiction is central to the investment case.

European Equities Blog
Europe’s HALO effect: Finding resilience after a tough geopolitical summer
08 October 2026 | David Barker

Headlines over the summer were challenging for Europe. Hope for resolution in the US-Iran conflict peaked at the start of July, with oil prices falling close to USD 70 per barrel before rapid re-escalation took prices back above USD 100, reigniting inflation fears.

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