Core Insights - GAM Holding AG is now fully focused on growth with new investment partnerships and leadership in place, marking a significant transformation in its business strategy [1][6][20] Financial Performance - The underlying pre-tax loss for H1 2025 was CHF 34.1 million, slightly higher than the CHF 33.2 million loss in H1 2024, primarily due to lower net fee and commission income [4] - GAM reported an IFRS net loss after tax of CHF 40.7 million, which includes CHF 6.3 million of reorganisation and other charges [7] - Assets under Management (AuM) stood at CHF 12.7 billion as of 30 June 2025, down from CHF 16.3 billion at the end of 2024, with outflows driven by changes in the European Equity investment team [16][17] Strategic Initiatives - GAM has completed its transformation and is entering a new phase focused on sustainable growth, innovation, and client-centric excellence [6] - The company has enhanced its investment platform with the establishment of a new European Equity team and partnerships with Swiss Re and Gramercy for Cat Bond strategies and Emerging Market Debt strategies, respectively [12][16] - GAM's distribution leadership has been strengthened with new senior hires and the return of Tim Rainsford as Group Chief Distribution Officer [12] Investment Performance - GAM continues to deliver strong investment performance, with 73% of Investment Management AuM outperforming their three-year benchmark and 74% outperforming their five-year benchmark as of 30 June 2025 [10][14] - GAM has also outperformed its peer group, with 55% of Investment Management AuM outperforming their three-year Morningstar peer group and 76% outperforming their five-year peer group [14][15] Awards and Recognition - GAM has received multiple awards, including LSEG Lipper's 2025 Best Overall Investment Group across Europe over three years and the PAM Award 2025 for Investment Performance – Growth Portfolios [12]