GAM Swiss Re cat bond fund tops $2bn, fees rise to CHF 6m
Performance fee income rose to CHF 6.0m as the Swiss Re tie-up completed its first full year and was fully integrated into GAM.
GAM on Thursday said assets in its Swiss Re catastrophe bond fund had moved past $2bn after ending the half-year at almost $2bn, as performance fee income rose to CHF 6.0m.
The update marks a new stage in GAM’s tie-up with Swiss Re, which completed its first full year during the half and is now fully integrated into GAM, following the partnership launch first announced earlier and covered by Insurance Asset News in July.
GAM’s half-year statement also pointed to broader momentum in the business, with gross inflows of CHF 0.9bn and underlying net flows positive once a single segregated-account redemption is excluded. Within that, the cat bond strategy has become a meaningful contributor to fee generation under a fee-sharing arrangement with Swiss Re.
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