The Swiss investment firm GAM Holding has warned that almost CHF60m in charges linked to its 2016 acquisition of the quant manager Cantab Capital Partners will hit its profits for the first half of the year.
GAM said in a statement on Friday that it expects to report net profits of CHF25m ($25m) when it publishes earnings for the period at the end of July. This is down significantly on the CHF67.7m in profits earned during the first half of 2017.
