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Strategic Announcement

Message from Peter Sanderson, Group Chief Executive Officer

Dear Client,


I would like to personally thank you for your continued loyalty and patience during the recent months while the GAM Holding AG Board has been finalising its strategic review. I am delighted to inform you that we have now reached an agreement with Liontrust Asset Management, the specialist fund management company headquartered in London, whereby Liontrust will purchase 100% of GAM Holding AG. 


We have also reached agreement in principle to transfer our third-party Fund Management Services (FMS) business in Luxembourg and Switzerland to another provider. These transactions will therefore create a global asset manager with circa CHF 60bn AuM. 


The transaction brings together two active asset managers who are complementary in terms of distribution and product mix, closely aligned in terms of a distinctive investment culture and have an extremely strong focus on delivering excellent service to clients. The resulting business will have a strong balance sheet, a broader array of excellent investment products and a relentless focus on responsible investing and performance for our clients. 


Liontrust will provide an attractive home for our active fund managers: they will benefit from Liontrust’s focus on independent, distinct processes; delivery across sales and marketing; a strong brand; financial stability; and the support provided by the business processes and infrastructure.


Liontrust will retain investment and distribution teams from GAM to ensure a smooth transition to completion and beyond, which will minimise change for clients. Together we will have the resources and talent to deliver excellent service in every country and Liontrust is committed to the international client base and the presence that GAM has built across the world. Time and resources will be invested to grow the operation and further develop the product offering and service for clients. 


Liontrust intends to rebrand all GAM funds as soon as possible after completion of the Proposed Acquisition and for the GAM business to operate under the Liontrust brand. The strength of the brand, the enlarged, more diversified investment platform and the client-centric culture of the combined firm will provide the stability and opportunities for growth and performance which our clients rightly demand. 


Today we are also publishing our 2022 Annual Report, our full year 2022 results and our results for Q1 2023, details of which can be found at the highlights is the strong performance we are proud to have achieved: 91% of our Investment Management pooled fund AuM have outperformed their benchmark over 3 years as at 31 March 2023.


We look forward to working very closely with Liontrust to deliver a seamless transition and successful completion of this transaction in order to enhance the investment solutions and service we can provide for you in the future. 


If you have any questions on any of our announcements today, please contact your relationship manager who will be delighted to help. 


Yours sincerely, 



Peter Sanderson

Group Chief Executive Officer

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Disclaimer regarding forward-looking statements 
This information released 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.

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