GAM Investments
Market insights and commentary from GAM Investments.
Switzerland5 articlesLast published 15 Jun 2026
Multi-AssetEquitiesFixed Income
Research
GAM Proxy Voting: Stewardship in a Changing Governance Landscape | Sustainability | 11 June 2026 | en
GAM's Responsible Investment team reviews its proxy voting activity during the 2025 season, noting that board-related resolutions accounted for 32% of opposition votes, driven by concerns around independence, refreshment and strategic oversight. The piece also provides an early outlook on the 2026 proxy season, highlighting a continued shift toward materiality-driven stewardship with greater focus on board accountability and financially relevant risk oversight.
15 Jun 2026
GAM InvestmentsEquities
Beyond SpaceX: The overlooked European companies benefitting from the global space boom | 04 June 2026 | en
GAM Investments identifies European space-related equities — including Avio, Airbus, STMicroelectronics, Leonardo, Thales and Kongsberg — as undervalued relative to US peers despite meaningful exposure to launch, satellite, semiconductors and sovereign communications themes. The piece argues that European "space sovereignty" initiatives such as IRIS² and the proposed Airbus/Leonardo/Thales space merger could act as re-rating catalysts for these cash-generative businesses.
9 Jun 2026
GAM InvestmentsMulti-Asset
Is the UK OK? Markets cast their vote on the political uncertainty | 26 May 2026 | en
GAM's Chief Multi-Asset Investment Strategist Julian Howard assesses the market impact of UK local election results, examining rising gilt yields (10-year at ~5%), FTSE 100 weakness, and sterling volatility in the context of near-94% debt-to-GDP and a potential Labour leadership change. The piece argues for modest, pragmatic UK exposure—gilts as a limited diversifier and FTSE 100 as a value play at 13x forward earnings—while cautioning against overweights given ongoing fiscal and political uncertainty.
4 Jun 2026
GAM InvestmentsPrivate Markets
SpaceX IPO and beyond Accessing innovation in the private markets | 28 May 2026 | en
GAM Investments (via Liberty Street Advisors) examines the implications of SpaceX's filing for a potential record-breaking IPO and the broader trend of value creation shifting to private markets, where companies now remain private for over 12 years on average before listing. The piece presents proprietary research showing that investing at the final private funding round of VC-backed companies and holding to six months post-IPO generated average returns of ~249%, versus ~16% for IPO-day investors, to argue for late-stage private equity exposure.
29 May 2026
GAM InvestmentsMulti-Asset
Lessons from Iran | 11 May 2026 | en
GAM's Chief Multi-Asset Investment Strategist examines why the Iran conflict's market impact has defied the traditional "equities down, bonds up" playbook, with the S&P 500 posting gains and US Treasury yields rising since hostilities began in February 2026. The piece argues that the inflationary nature of the supply shock, structural shifts in the stock-bond correlation, AI-driven earnings optimism, and the growing retail investor "buy-the-dip" culture explain the anomalous market behaviour, while cautioning against large reactive portfolio changes.
11 May 2026