GAM expects a net loss of around $336 million for 2022

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The group said it also expects to report an underlying pre-tax loss of approximately 42.8 million Swiss francs ($46.4 million).

“2022 was a challenging year with our financial results seeing the impact from a market-led decline in our assets under management,” GAM’s chairman David Jacob said.

The company also announced it has moved the date of its full-year 2022 results presentation to April 25, 2023.

($1 = 0.9228 Swiss francs)