GAM, the Swiss asset manager at the centre of an attempted boardroom putsch by activist hedge fund RBR Capital, said its first-quarter results amounted to "tangible" proof that its management's plan for the business is working.

GAM reported a net inflow of 2.8 billion Swiss francs for the first three months of the year, in its quarterly results statement today, April 18. That is an improvement on the last three months of 2016, when the firm lost a net Sfr2.4 billion from its funds.