View more on these topics

Julius Baer buys GAM from UBS

GAM has been sold by UBS to Swiss bank Julius Baer as part of a 2.5bn deal.

GAM is part of SBC Wealth Management, along with three private Swiss banks, all of which are part of the deal.

The boutique manager was started in 1983 by the late Gilbert de Botton and has been owned by UBS since 1999. Its fund managers are free to run money on their terms and star managers include Andrew Green, who runs the UK diversified fund, US manager Gordon Grender and Mike Bunker, who heads the Asian desk. The firm also boasts a highly profitable hedge fund business.

SBC merged with UBS in 1998. UBS allowed the firms to continue operating under their own names and business models in an attempt to retain staff and clients.

Alan Steel Asset Management chairman Alan Steel says: “GAM wants to do business entirely its own way and has not been keen to enter the new distribution world.

“It has made an awful lot of money for very rich clients but has never made a big impact on UK retail. It will be interesting to see whether the buyer wants to change this or if it is just after the substantial trail.”

Recommended

NU goes live on Exweb Gold

Norwich Union is the latest provider to go live for policy valuations on The Exchanges Exweb Gold.NU joins Friends Provident, Prudential and Standard Life on the service with Axa, Scottish Equitable, Scottish Widows and Skandia expected to join later this year.NU head of ebusiness development Andrew Simon says: “Enhancing our ecommerce capability to allow real […]

Foundations of portfolio construction

I am considering having you manage an investment portfolio and am intrested to know more about your investment process, how you constructed a portfolio and how you decide on the optimum asset allocation. I would also like to know what assumptions you use for the various asset classes and how these impact on the expected returns.

Baring fund targets Africa, Middle East and Eastern Europe

Baring is introducing its third long/short equity hedge fund, the Emea absolute return fund, which will invest in East- ern Europe, the Middle East and Africa. Launch- ing on November 1, the fund is aiming to deliver returns in excess of 20 per cent a year, with 15 per cent volatility. It will be managed […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com